Berliner Boersenzeitung - Fossil fuel pledges divide G7 in 'critical decade' for climate

EUR -
AED 4.104356
AFN 76.945527
ALL 99.231336
AMD 432.618629
ANG 2.010722
AOA 1036.726011
ARS 1074.130668
AUD 1.641363
AWG 2.011392
AZN 1.900177
BAM 1.955432
BBD 2.252676
BDT 133.324923
BGN 1.955432
BHD 0.420421
BIF 3234.291666
BMD 1.11744
BND 1.441629
BOB 7.70955
BRL 6.162794
BSD 1.11569
BTN 93.249161
BWP 14.748226
BYN 3.651213
BYR 21901.820514
BZD 2.248877
CAD 1.517204
CDF 3208.169723
CHF 0.949813
CLF 0.037598
CLP 1037.43487
CNY 7.880073
CNH 7.870134
COP 4641.826925
CRC 578.891117
CUC 1.11744
CUP 29.612155
CVE 110.244264
CZK 25.088083
DJF 198.672632
DKK 7.466731
DOP 66.967404
DZD 147.657227
EGP 54.142816
ERN 16.761597
ETB 129.466549
FJD 2.459263
FKP 0.850996
GBP 0.838761
GEL 3.050454
GGP 0.850996
GHS 17.539701
GIP 0.850996
GMD 76.544228
GNF 9639.186978
GTQ 8.624378
GYD 233.396101
HKD 8.706365
HNL 27.675794
HRK 7.597486
HTG 147.212311
HUF 393.517862
IDR 16941.281656
ILS 4.226062
IMP 0.850996
INR 93.284379
IQD 1461.525104
IRR 47035.835678
ISK 152.262759
JEP 0.850996
JMD 175.28703
JOD 0.791704
JPY 160.715782
KES 143.92293
KGS 94.131451
KHR 4531.147742
KMF 493.181817
KPW 1005.695207
KRW 1488.976663
KWD 0.340898
KYD 0.929725
KZT 534.90939
LAK 24636.366177
LBP 99910.008054
LKR 340.395975
LRD 223.13803
LSL 19.586216
LTL 3.299509
LVL 0.675928
LYD 5.298004
MAD 10.818165
MDL 19.468338
MGA 5046.050895
MKD 61.603413
MMK 3629.400954
MNT 3797.060466
MOP 8.955716
MRU 44.337661
MUR 51.26838
MVR 17.164402
MWK 1934.436154
MXN 21.694872
MYR 4.69883
MZN 71.34836
NAD 19.586216
NGN 1831.986636
NIO 41.062277
NOK 11.71496
NPR 149.198937
NZD 1.7912
OMR 0.429669
PAB 1.11569
PEN 4.181813
PGK 4.367179
PHP 62.188869
PKR 309.994494
PLN 4.274599
PYG 8704.362807
QAR 4.067535
RON 4.972493
RSD 117.064981
RUB 103.380555
RWF 1504.017111
SAR 4.19314
SBD 9.282502
SCR 14.578258
SDG 672.172563
SEK 11.365705
SGD 1.442953
SHP 0.850996
SLE 25.530486
SLL 23432.148605
SOS 637.580078
SRD 33.752303
STD 23128.748217
SVC 9.762164
SYP 2807.601005
SZL 19.593315
THB 36.793946
TJS 11.859769
TMT 3.911039
TND 3.380564
TOP 2.617155
TRY 38.124254
TTD 7.588573
TWD 35.736828
TZS 3045.827114
UAH 46.114226
UGX 4133.222587
USD 1.11744
UYU 46.101329
UZS 14197.329642
VEF 4047984.459863
VES 41.096936
VND 27494.606824
VUV 132.664701
WST 3.125996
XAF 655.833645
XAG 0.035881
XAU 0.000426
XCD 3.019937
XDR 0.826844
XOF 655.833645
XPF 119.331742
YER 279.723102
ZAR 19.477937
ZMK 10058.30169
ZMW 29.537444
ZWL 359.815167
  • CMSD

    0.0100

    25.02

    +0.04%

  • BCC

    -7.1900

    137.5

    -5.23%

  • NGG

    0.7200

    69.55

    +1.04%

  • BCE

    -0.1500

    35.04

    -0.43%

  • SCS

    -0.3900

    12.92

    -3.02%

  • RBGPF

    58.8300

    58.83

    +100%

  • RYCEF

    0.0200

    6.97

    +0.29%

  • RELX

    -0.1400

    47.99

    -0.29%

  • JRI

    -0.0800

    13.32

    -0.6%

  • RIO

    -1.6100

    63.57

    -2.53%

  • CMSC

    0.0300

    25.15

    +0.12%

  • VOD

    -0.0500

    10.01

    -0.5%

  • GSK

    -0.8200

    40.8

    -2.01%

  • AZN

    -0.5200

    78.38

    -0.66%

  • BTI

    -0.1300

    37.44

    -0.35%

  • BP

    -0.1200

    32.64

    -0.37%

Fossil fuel pledges divide G7 in 'critical decade' for climate
Fossil fuel pledges divide G7 in 'critical decade' for climate / Photo: Philip FONG - AFP/File

Fossil fuel pledges divide G7 in 'critical decade' for climate

G7 allies meet this week for climate talks that are likely to urge more action in a "critical decade", but could also lay bare divisions on ambitious fossil fuel commitments.

Text size:

The world's leading developed economies are all targeting net-zero emissions by 2050 or sooner after signing the Paris Agreement to cap global warming at well under two degrees Celsius.

But they differ on how to respond to the energy squeeze caused by Russia's war in Ukraine, with host Japan among those arguing for more leeway on fossil fuels to protect energy security.

Britain, backed by France, has proposed new targets on the phase-out of domestic coal power in a draft statement seen by AFP ahead of the minister-level talks, which kick off in Sapporo on Saturday.

Pushback from Japan -- which remains heavily dependent on imported fossil fuels after the 2011 Fukushima nuclear plant disaster -- could sink those efforts.

There are also divisions over natural gas, with Japan leading those pushing the group to recognise overseas investments in the fuel as a "necessary" step in the global transition to clean energy.

Campaigners say Japan's reluctance to embrace ambitious fossil fuel targets sends the wrong message.

Japan is "actively working to increase reliance on liquid natural gas and other kinds of gas-based fuels" in Asia, Susanne Wong, Asia Program Manager at Oil Change International, told AFP.

"While there's an urgent need to shift from fossil fuels, and the war has shown how risky the strategy is of relying so heavily on imported fossil fuels, they're encouraging governments to import LNG across the region."

- 'Exceptional circumstances' -

At last year's meeting in Germany, the G7 climate ministers pledged to largely decarbonise their electricity sectors by 2035.

They also agreed to end new direct public support in 2022 for overseas fossil fuel projects that take no steps to offset carbon dioxide emissions.

But this commitment was watered down the following month, when G7 leaders said the "exceptional circumstances" of the Ukraine war made gas investments "appropriate as a temporary response".

The language now sought by Japan -- with backing from G7 partners that include the United States, Canada, Germany and Italy -- would solidify that exception.

The meeting comes after a major UN climate report last month warned the world will see 1.5C of warming in about a decade, calling for "rapid and far-reaching" efforts to keep temperature increases within relatively safe limits.

And the draft final statement by the G7 environment ministers calls for all major economies to take action "in this critical decade".

It also urges a peak in global greenhouse gas emissions by 2025 at the latest -- language that experts say is aimed at China, the world's largest carbon emitter.

China is targeting a peak of its carbon emissions by 2030.

Other phrasing will be more contentious, including Japan's push for recognition of nuclear power and endorsement of its plan to start releasing treated water from the Fukushima plant into the sea this year.

It also wants G7 recognition for its controversial strategy of burning hydrogen and ammonia alongside fossil fuels to reduce carbon emissions, which climate activists say only serves to extend the lifespan of polluting plants.

- Japan 'biggest obstacle' -

Coal may prove the largest stumbling block, with Britain seeking a 2030 deadline to complete an "accelerated phase-out of domestic unabated coal power generation" to keep the 1.5C goal within reach.

But Japan's preferred language would be a more general pledge to prioritise "concrete and timely steps" towards the phase-out.

Friederike Roder, vice president of the NGO Global Citizen, warned the meeting's language would be critical ahead of the G20 summit in India and COP28 in Dubai.

"We're trying to avoid going backwards" on pledges, she told AFP.

"Japan is certainly the biggest obstacle -- and this year it is G7 president."

Governments around the world will also be looking for action on resilience funding for the developing nations most affected by climate change.

Multi-billion-dollar investment plans have been announced for countries such as South Africa and Indonesia to transition to clean energy from fossil fuels.

But these remain "very ad hoc", said Alex Scott from the climate think-tank E3G.

The G7 needs to "offer some credibility and clarity on what they're going to do to help countries adapt to climate change", she said.

(T.Renner--BBZ)