Richest nations pledge to stop supporting overseas coal production – Mother Jones

Kerry said: “I will strongly recommend to the President that this is a policy that we should be pursuing … But I guarantee you that we will be completely consistent with 1.5 C – 1.5 C governs the choices we have to make within 10 coming years. Any decision must fall within this framework. “

He said the G7’s decision to assert a temperature limit of 1.5 ° C, which scientists say will require halving greenhouse gas emissions this decade as well as net zero emissions d ‘by 2050, marked the first time that countries had made such a commitment and was a big step forward. The 2015 Paris agreement requires countries to keep temperature rises “well below” 2 degrees Celsius above pre-industrial levels, with a limit of 1.5 C as suction.

“[There was] a greater sense of urgency than I have felt in the G7 countries as a unit, ”he said.

Barbara Pompili, French Environment Minister, said: “I am delighted that agreement has been reached on a key aspect of our G7 communiqué: the absolute end of new direct government support for international production of coal-fired electricity. It gives a very strong signal to the world that coal is an energy of the past and has no place in our future energy mix. It sets the stage for a radical transition to clean energy.

“It was a difficult decision for Japan in particular, and I am very happy that Japan was able to take this decisive step.”

South Korea, another major source of funding for overseas coal-fired power generation, has already agreed to end the practice. This leaves China as the main source of such funding in developing countries.

China will now be closely watched before Cop26, the vital UN climate talks to be hosted by the UK in Glasgow in November. The largest transmitter in the world has yet to produce a national plan to reduce greenhouse gas emissions by 2030, called a nationally determined contribution (NDC) and an essential part of any deal in Glasgow.

Amina Mohammed, UN Deputy Secretary General, told the meeting: “We are running out of time to bend the emissions curve and reduce emissions by 45% globally by 2030 and that is from the levels 2010. This means that all major issuers must deliver enhanced CDNs this year with concrete and credible targets that we can follow through to 2030. Significant investments in the targets we set for ourselves for 2030 will determine the outcome of the credibility of the 2050 goals. And that means there will be no new coal from now on, phasing out coal in OECD countries by 2030 and the rest of the world by 2040 .

The United Kingdom, which this year holds the rotating presidency of the G7, as well as the summit of the Cop26, also called on all countries to phase out coal for power generation. However, his efforts were overshadowed by an argument over a possible new coal mine in Cumbria, now the subject of a public survey.

The G7 press release contains a warning, the Guardian understands, at the request of the Japanese government, that this would allow financing of coal under “circumstances limited to the discretion of each country.” It is understood that this will only be used in exceptional circumstances.

The draft text reads: “We commit to promote increased international flows of public and private capital to investments aligned with the Paris Agreement and to move away from high-grade electricity generation. in carbon to support the clean energy transition in developing countries. In this context, we will phase out new direct government support for international carbon-intensive fossil fuels, except in circumstances limited to the discretion of each country, in a manner consistent with an ambitious and clearly defined path to climate neutrality. in order to keep 1.5C on hand, in line with the long-term goals of the Paris Agreement and the best available science.

“Consistent with this comprehensive approach and recognizing that continued global investment in relentless coal production is incompatible with keeping 1.5 ° C within reach, we stress that relentless international investment in coal must cease now and commit to taking concrete steps towards the absolute end of a new direct government support for international production of thermal coal-fired electricity relentlessly by the end of 2021, including through aid public development, export financing, investment and financial and trade promotion support. “

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