The G7 countries are the world’s wealthiest nations and also major contributors to greenhouse gas emissions
On Tuesday, G7 nations signed an agreement in Turin, Italy to phase out unabated coal power generation by 2030-35. After the G20 summit in New Delhi in September 2023, and COP 28 in Dubai in December 2023, this G7 agreement is an eminent step towards renewable energy targets and reduction of fossil fuels to generate electricity.
Image Source: Brunswick Group
The G7 accord surfaced shortly after the US Environmental Protection Agency unveiled fresh regulations mandating coal-fired power plants to either capture almost all of their greenhouse gas emissions or cease operations by 2040.
Why is the phase out needed
Electricity generation from coal power plants leads to emission of greenhouse gases and causes climate change. According to climate experts, 6% of the world’s coal capacity must shut every year until 2040 to avoid a climate emergency.
The G7 nations – the US , Britain, Canada, Italy, France, Germany and Japan are one of the world’s wealthiest nations and account to high coal power generation too.
Image Source: Mercom India
With the share of coal in electricity being highest in Japan (32%), Germany (27%), the US (16%), Italy (5.3%), Canada (5%), the UK (1.4%) and France (0.4%).
Leeway given to Japan and Germany
The communique marks a milestone for G7 nations to phase out coal power generation by 2035 or sustain production of coal plants which are fitted effective carbon-removal technology or by keeping the global heating limit to 1.5°C above pre-industrial level.
The document allows leeway to countries heavily reliant on coal, i.e. Japan and Germany to use proper carbon-removal technology in coal plants and are also given a flexible extension to the phase out deadline.
While Germany has decided 2038 as its phase out deadline to completely withdraw from coal power generation, Japan has not come up with a timeline yet.
The Russian Gas issue
The G7 countries acknowledged the importance of reducing Russian energy revenues to support Ukraine. They pledged to work on decreasing their imports of Russian gas, but they didn’t reach a consensus on imposing European-wide sanctions on Russian liquefied natural gas (LNG).
The G7 ministers discussed their aim to completely eliminate imports of Russian gas and also reviewed issues related to LNG. They highlighted the need for global energy storage in the power sector to reach 1500 gigawatts (GW) by 2030, which is more than six times the current level in 2022.
Additionally, they emphasized the requirement for $600 billion per year investments in electricity transmission and distribution grids by 2030, as they focused on expanding renewable energy sources. The G7 countries also reaffirmed their commitment to reduce reliance on Russian civil nuclear-related goods. They emphasized the promotion of small modular nuclear reactors and international collaborations for nuclear fusion energy pilot plants.
Conclusion
Candy Ofime, Amnesty International’s Climate Justice Researcher, said that this agreement should not promote the adoption of natural gas, commonly known as methane, as an alternative energy source. The extraction and use of natural gas have been increasingly linked to the release of this highly potent greenhouse gas, which significantly contributes to the issue of global warming.
Considering that the G7 countries are the world’s wealthiest nations and also major contributors to greenhouse gas emissions, they bear a significant responsibility in assisting lower-income countries in transitioning away from all forms of fossil fuels.
