G7 Ministers Push for Global Fossil Fuel Phase-Out Deal at Climate Meeting.

1 min read
Source: OilPrice.com
G7 Ministers Push for Global Fossil Fuel Phase-Out Deal at Climate Meeting.
Photo: OilPrice.com
TL;DR Summary

The Group of Seven (G7) ministers have left the door open to new investment in natural gas and ongoing use of fossil fuels, despite their supposed commitment to limit global warming. The G7 meeting did result in several commitments, including a plan to boost solar capacity and offshore wind generation across member nations by the end of the decade. However, the group failed to set a deadline for halting new coal investments and did not agree on exiting coal by a specific date. The G7's communique sets the tone for negotiations around energy and climate among the Group of 20 countries and at the UN climate summit.

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