June 13, 2021
2 mins read

G7 leaders agree on efforts to combat climate crisis

The joint efforts by the US, UK, Canada and Germany will include a new collective commitment to provide up to $2 bn to support the work of the Climate Investments Funds, reports Asian Lite News

The Group of Seven (G7) leaders agreed to a set of concrete actions to accelerate the global transition away from coal generation as part of efforts to combat the climate crisis.

In a fact sheet, the White House stressed that confronting the climate crisis presents a historic opportunity to drive economic recovery, create millions of good-paying union jobs and build back better while investing in a more resilient, prosperous, equitable, and secure future.

“Recognizing that unabated coal power generation is the single biggest source of greenhouse gas emissions globally, and consistent with President Biden’s domestic leadership, G7 leaders will commit to an end to new direct government support for unabated international thermal coal power generation by the end of this year,” it said.

The joint efforts by the US, the United Kingdom, Canada and Germany will include a new collective commitment to provide up to $2 billion to support the work of the Climate Investments Funds focused on accelerating the transition from coal for key developing countries while investing in technology, job training, and infrastructure to enable the transition to a more reliable and prosperous clean energy economy.

The world leaders are also launching the G7 Industrial Decarbonization Agenda, a first-of-its-kind platform to accelerate innovation, deploy decarbonisation technology and harmonise standards. They will also emphasise sectoral decarbonisation in power, transport, agriculture, and buildings.

ALSO READ: G7 to unveil global anti-pandemic action plan

The White House also informed that all G7 leaders, for the first time, will align their long-term and short-term climate goals in a manner consistent with keeping the 1.5 degrees celsius global warming threshold within reach.

The leaders will also resolve to strengthen adaptation and resilience to protect people from the impacts of climate change and to halt and reverse biodiversity loss, as well as to mobilise finance and leverage innovation to reach these goals. According to the White House, Biden is also advancing policies domestically that will achieve carbon-pollution free energy in electricity generation by 2035.

“These policies will support scale up of technology that captures carbon and then permanently sequesters or utilizes that captured carbon, which includes lowering the cost of carbon capture retrofits for existing power plants — all while ensuring that overburdened communities are protected from increases in cumulative pollution,” it said.

Earlier, G7 leaders also launched the ‘Build Back Better World’ (B3W) partnership for meeting the infrastructure needs of low and middle-income countries as parts of efforts to counter China’s Belt and Road Initiative (BRI).

The scope of the initiative ranges from Latin America and the Caribbean to Africa to the Indo-Pacific.

ALSO READ: G7 To Counter China’s BRI

Previous Story

Andre Russell hit by bouncer, hospitalised

Next Story

US is back under Biden, says Macron

Latest from -Top News

Modi: We’ll Hunt Them Down

The Prime Minister thanked nations that extended support to India in the aftermath of the terror attack…reports Asian Lite News In his first address after the horrific terror attack in Pahalgam, Jammu

Moscow Steps Up Afghan Diplomacy

Russia sees a potential economic partner in the Taliban authorities, who praised Moscow for scrapping the “terrorism” label last week…reports Asian Lite News Russia has announced that it will elevate the Afghan

World leaders condemn Kashmir terror attack 

Strong messages of condemnation of the terror attack came from leaders in different parts of the world including the US, Russia, UAE, Israel, Singapore, France, Sri Lanka and Iran  World leaders strongly

India downgrades ties with Pakistan 

The decision — which also included the downgrading of diplomatic ties with Pakistan — came after a meeting of the Cabinet Committee on Security (CCS), chaired by the PM   India on

Sindh Lawyers Lead Protests Against Canal Plan 

The protests, which have been ongoing for weeks, have gathered significant attention from various sectors of Sindh’s civil society, including nationalist parties, farmers, writers, and members of the legal community.  Judicial activities
Go toTop

Don't Miss

US, allies gear up for 2nd Summit for Democracy

The event will come after the first Summit for Democracy

Alarm after Chinese firm buys farmland near air base

The company has acquired 370 acres of land near Grand