{"id":50861,"date":"2024-04-30T17:47:13","date_gmt":"2024-04-30T16:47:13","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=50861"},"modified":"2024-05-03T11:49:24","modified_gmt":"2024-05-03T10:49:24","slug":"g7-offers-tepid-response-to-appeal-for-bolder-climate-action","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2024\/04\/30\/g7-offers-tepid-response-to-appeal-for-bolder-climate-action\/","title":{"rendered":"G7 offers tepid response to appeal for “bolder” climate action"},"content":{"rendered":"

When UN climate chief Simon Stiell addressed climate and energy ministers from the G7 group of rich nations on Monday, he issued a frank message: \u201cIt is utter nonsense to claim the G7 cannot \u2013 or should not \u2013 lead the way on bolder climate actions.\u201d<\/strong><\/p>\n

He added those countries should be “leading from the front” through much deeper emissions cuts, and bigger and better climate finance.<\/p>\n

A day later, the gathering of the most powerful industrialised democracies responded with a tepid outcome<\/a>, serving up a new commitment on ending coal power generation – weakened by a loophole in the language – a rehash of previous pledges and nothing new on climate finance, this year\u2019s top priority in climate diplomacy.<\/p>\n

For the first time, G7 countries all agreed to end the use of coal power generation in their energy systems \u201cduring the first half of the 2030s\u201d.<\/p>\n

While most members of the bloc are already planning<\/a> to phase out coal before 2035, the commitment marks a step forward for Japan, analysts said. The Asian nation generates<\/a> over a quarter of its energy from coal and, alongside Germany and the United States, had previously blocked<\/a> international efforts towards setting a target date to shut down coal power plants.
\n<\/strong><\/p>\n

Germany has written into its legislation a final target to exit coal by 2038 at the latest, but the government now intends to pull that forward to 2030. The United States unveiled<\/a> new regulations last week under which coal plants planning to stay open beyond 2039 will have to cut or capture 90 percent of their carbon dioxide (CO2) emissions by 2032.<\/p>\n

Not enough<\/h3>\n

But the G7 coal-power agreement struck on Tuesday in Turin, Italy, comes with a caveat that gives countries an alternative choice to phase out coal \u201cin a timeline consistent with keeping a limit of 1.5\u00b0C temperature rise within reach, in line with countries\u2019 net-zero pathways\u201d.<\/p>\n

Gilberto Pichetto Fratin, Italy\u2019s minister for environment and energy security, told journalists at the end of the summit that the text \u201cfor the very first time uses a deadline, wherever possible\u201d.<\/p>\n

\u201cG7 countries undertake to phase out the use of coal without jeopardising the various countries\u2019 economic and social equilibrium,\u201d he added.<\/p>\n

Researchers say that, even if countries do stick to the mid-2030s deadline, it will not be enough to limit global warming in line with the goals of the 2015 Paris Agreement.<\/p>\n

G7 countries need to phase out coal from power generation by 2030 at the latest, and gas by 2035, according to a recent analysis<\/a> done by Berlin-based policy institute Climate Analytics.<\/p>\n

\"G7<\/a>

G7 climate and energy ministers meet at the Reggia di Venaria Reale in Italy. Photo: G7 Italy<\/p><\/div>\n

\u201cIt’s notable that gas has not been mentioned [in the G7 ministerial agreement],\u201d said Jane Ellis, head of climate policy at Climate Analytics, pointing at increased investment in domestic gas facilities. \u201cThis is absolutely the wrong direction to be heading in \u2013 both economically and for the climate.”<\/p>\n

In their final communique, ministers said that \u201cpublicly supported investments in the gas sector can be appropriate as a temporary response, subject to clearly defined national circumstances\u201d, in their efforts to reduce dependency on imported Russian fossil fuels.<\/p>\n

They also repeated a previous commitment to eliminate \u201cinefficient fossil fuel subsidies by 2025 or sooner\u201d, without providing a clearer definition of \u201cinefficient\u201d or details on how that goal would be achieved.<\/p>\n

Fossil fuel subsidies across G7 countries hit<\/a> an all-time high of $199.1 billion in 2022, according to analysis by IISD and the OECD. \u201cIt\u2019s very clear they are not going to meet that target,\u201d said Farooq Ullah, senior policy advisor at IISD.<\/p>\n

No progress on climate finance<\/h3>\n

This week’s ministerial meeting in Italy also failed to significantly move the needle on climate finance, as UN negotiations on a new collective quantified goal (NCQG) at COP29 in November are starting to gather pace<\/a>.<\/p>\n

G7 countries said in their final text they \u201cintend to be leading contributors to a fit-for-purpose goal\u201d and acknowledged the need for “mobilising trillions”, but stopped short of making any new financial commitment or offering clear ways forward.<\/p>\n

The existing goal is set at $100 billion a year, but developing countries \u2013 excluding China \u2013 need an estimated $2.4 trillion<\/a> a year to meet their climate and development needs, leading economists have said in a report<\/a> commissioned by the Cop26 and Cop27 presidencies.<\/p>\n

In order to loosen the purse strings, it is crucial that every minister across government cabinets – and especially finance ministers and treasurers – \u201cpush climate action into high gear\u201d, the UNFCCC\u2019s Stiell said on Monday.<\/p>\n

But, according to Luca Bergamaschi, director of Italian think-tank ECCO, they appear \u201cnot to be caring enough about climate finance\u201d.<\/p>\n

\u201cClimate ministers are hitting a wall on climate finance. These decisions rest on finance ministers so they need to step up, and step in, because they have the power and responsibility to do so,\u201d he told Climate Home.<\/p>\n

Meetings of G7 finance ministers in mid-May and country leaders in June are seen as last-ditch opportunities to push things forward.<\/p>\n

Experts believe an ambitious deal on climate finance at COP29 can play a crucial role in getting developing countries, especially the poorest ones, to commit to stronger action on curbing emissions and boosting adaptation as they draft their new national climate plans due early next year.<\/p>\n

The G7 ministers in Italy made a firm pledge to submit their own such plans – called nationally determined contributions (NDCs) – by the February 2025 deadline \u201cwith economy-wide, absolute reduction targets\u201d that cover all greenhouses gases and sectors \u201cin line with 1.5C\u201d. They also called on other major economies to do the same.<\/p>\n

\n

(Reporting by Matteo Civillini; editing by Sebasti\u00e1n Rodr\u00edguez and Megan Rowling)<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Climate and energy ministers from G7 nations agreed a coal exit deadline – with a caveat, but made little progress on other fossil fuels and finance ","protected":false},"author":98,"featured_media":50867,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3863,82,598,98],"tags":[73,3566],"coauthors":[4974],"class_list":["post-50861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-eu","category-fossil-fuels","category-us","tag-coal","tag-g7","type-news"],"acf":[],"yoast_head":"\nG7 offers tepid response to appeal for "bolder" climate action<\/title>\n<meta name=\"description\" content=\"Climate and energy ministers from G7 nations agreed a coal exit deadline, but 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