"The world’s seven largest advanced economies agreed on Friday to stop international financing of coal projects that emit carbon by the end of this year, and phase out such support for all fossil fuels, to meet globally agreed climate change targets.
Stopping fossil fuel funding is seen as a major step the world can make to limit the rise in global temperatures to 1.5 degrees Celsius above pre-industrial times, which scientists say would avoid the most devastating impacts of climate change.
Getting Japan on board to end international financing of coal projects in such a short timeframe means those countries, such as China, which still back coal are increasingly isolated and could face more pressure to stop."
Elizabeth Piper and Markus Wacket report for Reuters May 21, 2021.
SEE ALSO:
"G7 Moves To Isolate China On Coal" (Politico)
"G7 Agrees To Stop Overseas Funding Of Coal To Limit Global Warming" (Financial Times)
"Richest Nations Agree To End Support For Coal Production Overseas" (Guardian)
"G20 Nations Should Join G7 Countries With Climate Pledges, Says U.S." (Reuters)
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