(MENAFN) The Group of Seven (G7) nations recently wrapped up a two-day meeting in Sapporo, Japan, where they agreed to set new targets for solar power and offshore wind capacity. The G7 nations pledged to speed up the development of renewable energy and move towards a quicker phase-out of fossil fuels. However, they did not endorse a 2030 deadline for phasing out coal, which Canada and some other members had pushed for. The G7 nations also left the door open for continued investment in gas, stating that the sector could help address potential energy shortfalls.
Renewable fuel sources and energy security have taken on new urgency following Russia's invasion of Ukraine. The G7 nations recognize that climate action and action on energy security are not in conflict but actually work together, according to Jonathan Wilkinson, Canada's minister of natural resources. In their communique, the G7 members pledged to collectively increase offshore wind capacity by 150 GW by 2030 and solar capacity to more than 1 TW.
The G7 nations agreed to accelerate "the phase-out of unabated fossil fuels," which refers to the burning of fossil fuels without using technology to capture the resulting CO2 emissions. The G7 nations aim to achieve net zero in energy systems by 2050 at the latest. Regarding coal, the countries agreed to prioritize "concrete and timely steps" towards accelerating the phase-out of "domestic, unabated coal power generation." This commitment is part of a pledge made last year to achieve at least a "predominantly" decarbonized power sector by 2035.
Canada was clear that unabated coal-fired power should be phased out by 2030, and Ottawa, Britain, and some other G7 members committed to that date. However, some members are still trying to figure out how they could achieve that within their relevant timeframe. The G7 nations are committed to finding ways to help countries that are more coal-dependent than others to find technical pathways to phase out coal.
While the G7 nations are committed to renewable energy targets, they did not endorse a 2030 deadline for phasing out coal. However, the countries agreed to prioritize concrete and timely steps towards accelerating the phase-out of domestic, unabated coal power generation. The G7 nations recognize that renewable fuel sources and energy security work together and have made commitments to increase offshore wind capacity and solar capacity. The G7 nations aim to achieve net zero in energy systems by 2050 at the latest.
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