Energy ministers from the G7 countries, at their meeting in Turin, Italy, have agreed to shut down their existing unabated coal-fired power plants in the first half of the 2030s.
G7 countries include Canada, France, Germany, Italy, Japan, the UK, and the US.
The ministers adopted a joint declaration that follows up the goals they agreed on at COP28 and signals other countries to address the challenge of climate change effectively.
They agreed to reduce the coal-based generation to a level consistent with keeping a limit of 1.5°C temperature rise within reach, in line with their countries’ net-zero pathways.
However, Germany and Japan are given more time to shut down coal-fired power generation by the final communique wording that G7 countries, Reuters reported.
Also, they pledged to take timely measures in the form of policies to implement the next NDC.
The G7 leaders are committed to working together with countries and international partners towards the end of the approval of new unabated coal-fired power plants worldwide.
The ministers called on private finance institutions to work in tandem with governments to help move away from unabated coal power and prevent new unabated coal power.
According to the International Energy Agency’s (IEA) Clean Energy Market Monitor, the deployment of five key technologies eliminated around 2.2 Gt of CO2 emissions per annum.
The five key clean energy technologies include solar PV, wind power, nuclear power, electric cars, and heat pumps.
The G7 ministers stressed the importance of global collaboration to advance the development and commercialisation of clean energy solutions required for net-zero emissions pathways.
The declaration said: “We confirm our commitment to achieving a fully or predominantly decarbonized power sector by 2035 and call on all major economies to submit NDCs in 2025 that are consistent with the goal of reaching net-zero in energy systems well before or by 2050, so to deliver the necessary emission reductions as indicated by the IPCC.
“We are ready to engage with partner countries for effective cooperation towards these goals, including through relevant multilateral initiatives.”
Furthermore, G7 Energy Ministers condemned Russia’s direct attacks on Ukraine’s power generation infrastructure and pledged to help Ukraine restore its critical energy infrastructure.
