 "G7 commits to coal phaseout with caveats, may influence G20 and COP29 talks")
The Group of Seven (G7) developed economies, in the recent meeting of its Climate, Energy, and Environment Ministerial, has decided to phase out unabated coal during the first half of the 2030s. This decision sets the tone for the upcoming global dialogues on energy transition at COP29 (Conference of the Parties) in Baku and the Group of Twenty (G20) in Brazil later this year.
“We commit to phasing out existing unabated coal power generation in our energy systems during the first half of the 2030s or in a timeline consistent with keeping a limit of 1.5°C temperature rise within reach, in line with countries’ net-zero pathways. (We would also) reduce as much as possible, in the meanwhile, the utilisation of unabated coal power generation plants in our energy systems to a level consistent with keeping the limit of 1.5°C temperature rise within reach,” the final communiqué of the G7 meeting in Tunis, Italy, said.
While experts have criticised the language around the phaseout commitment as weak, the G7 is likely to exert more pressure on developing nations to give up fossil fuels — a stance they maintained at the last G20 meeting presided over by India and at COP28 in Dubai.
“The G7’s tepid commitment to phase out unabated coal by the mid-2030s starkly contrasts with the urgent need for climate action. Besides being the principal contributors to historical greenhouse gas emissions, these affluent nations continue to indulge deeply in the fossil fuel economy. This sets a low bar for the upcoming G20 Summit and COP29 climate conference later in the year, perpetuating a grave injustice by allocating the burdens of climate action inequitably and impeding the global fight against climate change,” said Harjeet Singh, global engagement director for the Fossil Fuel Non-Proliferation Treaty Initiative.
The G7 also reiterated its commitment to mobilize more climate finance towards renewable energy solutions. It also cited the G20 India Presidency text, which aims to mobilise “trillions” of funds towards meeting the Paris Agreement goal. This part of the G20 text was groundbreaking as earlier commitments to climate finance were in “billions”. While it signals enhanced climate funding for developing nations, the lack of a comprehensive plan is disappointing according to experts.
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The G7 also decided to push further its Just Energy Transition Partnerships (JETPs).
Through JETPs, the G7 signs agreements with poor nations to plan and finance their green growth by reducing fossil fuel usage and adopting more green energy. So far, South Africa and Indonesia have signed JETPs with the US, Japan, and Germany.
JETPs have been criticised by climate experts for rich nations promising funds as loans rather than grants and for meeting their green goals by shifting responsibility to poorer nations. The US and Germany have been courting India to sign a JETP, but the country has denied doing so until there is a coal phaseout commitment on the discussion table.
Singh said the G7 is failing on their climate finance commitments but demanding more ambitious climate action from developing countries like India.
Going Green
- Phase out existing unabated coal power generation in our energy systems during the first half of 2030s or in a timeline consistent with keeping a limit of 1.5C
- Achieve a fully or predominately decarbonized power sector by 2035
- To fund in trillions towards meeting goals of the Paris Climate Agreements
- Six-fold increase in energy storage
- To promote a common definition of fossil fuel subsidies
- Support tripling renewable energy capacity