Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Foreign Affairs
Related: About this forumRichest nations agree to end support for coal production overseas
Source: The Guardian
Richest nations agree to end support for coal production overseas
G7 countries reaffirm commitment to limit global heating to 1.5C after nearly two days of wrangling
Fiona Harvey Environment correspondent
Fri 21 May 2021 16.17 BST
The worlds richest nations have agreed to end their financial support for coal development overseas, in a major step towards phasing out the dirtiest fossil fuel.
After nearly two days of wrangling at a meeting of the G7 environment and energy ministers, hosted virtually by the UK on Thursday and Friday, all reaffirmed their commitment to limiting global heating to 1.5C, and committed to phasing out coal and fully decarbonising their energy sectors in the 2030s.
Japan, one of the worlds biggest sources of finance for coal power, along with China, held out on agreeing to stop helping to build until the final stages of the two-day virtual meeting. Japans government raised concerns that if it halted the financing, China would step in and build coal-fired power plants overseas that were less efficient than Japanese designs.
The other G7 members the UK, the US, the EU, France, Italy, Germany, and Canada were all united in calling for an end to such financing. The rich countries that make up the G7, along with other major non-G7 economies such as China and South Korea, have played a major role in the past in financing fossil fuel development in poorer countries. Japan, China and South Korea in particular have offered to help build coal-fired power plants in cash-strapped developing countries.
However, the International Energy Agency said earlier this week that all new developments of fossil fuels must end this year to give the world a good chance of keeping within the 1.5C limit. A recent increase in the use of coal, after last years lockdowns around the world, is largely responsible for what is forecast by the global energy watchdog to be the second biggest rise in emissions on record this year.
-snip-
G7 countries reaffirm commitment to limit global heating to 1.5C after nearly two days of wrangling
Fiona Harvey Environment correspondent
Fri 21 May 2021 16.17 BST
The worlds richest nations have agreed to end their financial support for coal development overseas, in a major step towards phasing out the dirtiest fossil fuel.
After nearly two days of wrangling at a meeting of the G7 environment and energy ministers, hosted virtually by the UK on Thursday and Friday, all reaffirmed their commitment to limiting global heating to 1.5C, and committed to phasing out coal and fully decarbonising their energy sectors in the 2030s.
Japan, one of the worlds biggest sources of finance for coal power, along with China, held out on agreeing to stop helping to build until the final stages of the two-day virtual meeting. Japans government raised concerns that if it halted the financing, China would step in and build coal-fired power plants overseas that were less efficient than Japanese designs.
The other G7 members the UK, the US, the EU, France, Italy, Germany, and Canada were all united in calling for an end to such financing. The rich countries that make up the G7, along with other major non-G7 economies such as China and South Korea, have played a major role in the past in financing fossil fuel development in poorer countries. Japan, China and South Korea in particular have offered to help build coal-fired power plants in cash-strapped developing countries.
However, the International Energy Agency said earlier this week that all new developments of fossil fuels must end this year to give the world a good chance of keeping within the 1.5C limit. A recent increase in the use of coal, after last years lockdowns around the world, is largely responsible for what is forecast by the global energy watchdog to be the second biggest rise in emissions on record this year.
-snip-
Read more: https://www.theguardian.com/environment/2021/may/21/richest-nations-agree-to-end-support-for-coal-production-overseas
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 561 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (2)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Richest nations agree to end support for coal production overseas (Original Post)
Eugene
May 2021
OP
MichMan
(11,938 posts)1. China ?
Aren't they the ones building the majority of coal plants ?
Eugene
(61,900 posts)2. The article goes on to say China is now the country to watch ahead of Cop26.
MichMan
(11,938 posts)3. They are clearly one of the richest nations, yet they haven't agreed to stop financing coal plants.
I suppose that by COP26, everyone else will be watching to see how many more they have built.
They are probably building more than all the other countries together. Until they agree to cut fossil fuel usages and emissions, the agreement is relatively meaningless.