The G7 nations have struck a landmark deal to end reliance on coal power by 2035, marking a watershed moment in the fight against climate change.
Energy ministers from the G7 group of advanced economies have reached a significant breakthrough agreement to phase out coal-fired power plants by 2035. Announced during a ministerial meeting in Turin, Italy, this decision signals a significant commitment from the world’s leading economies to accelerate the transition from fossil fuels.
UK minister for nuclear and renewables, Andrew Bowie, speaking in an interview with CNBC on Monday, called the meeting “historic” and said, “We do have an agreement to phase out coal in the first half of the 2030s”, according to a Financial Times report.
This development aligns with the broadening international consensus to address climate change. Following last year’s COP28 summit, where nations resolved to move away from fossil fuels, the G7 agreement provides concrete action on that pledge. While previous discussions often faced resistance from coal-dependent countries, this unified stance highlights a shift in priorities within global energy policy.
The G7: a brief background
The Group of Seven (G7) is an informal forum comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. These nations, representing some of the world’s largest economies, meet annually to discuss pressing global issues, including economic policy, security, and, increasingly, climate change.
Climate change on the agenda
While the G7 was initially focused on economic collaboration, climate change emerged as a critical concern in the late 1980s due to mounting scientific evidence. In 1988, the G7 established the Intergovernmental Panel on Climate Change (IPCC), a scientific body that continues to inform global climate negotiations. Since then, environmental sustainability has been a recurring theme on their agenda.
Early climate commitments
The 1990s saw the G7 taking tentative steps towards climate action. They endorsed the United Nations Framework Convention on Climate Change (UNFCCC) in 1992 and were instrumental in the 1997 Kyoto Protocol, the first treaty to set emissions reduction targets for developed countries. However, progress was often slow and marred by disagreements between nations with varying levels of commitment.
The 2000s: a decade of mixed progress
The 2000s brought mixed results. The G7 played a role in securing the 2009 Copenhagen Accord, which made financial pledges to support developing countries’ climate actions. However, a legally binding global agreement remained elusive. Meanwhile, G7 economies faced criticism for expanding fossil fuel subsidies and failing to meet their own emissions targets.
Recent momentum: from Paris to the 2035 pledge
The 2015 Paris Agreement was a turning point. With G7 leadership, nearly all nations agreed to limit global warming to well below 2°C, ideally 1.5°C. This consensus spurred more forceful G7 action. Pledges to achieve net-zero emissions by mid-century were made, accompanied by commitments to mobilise billions in climate finance for vulnerable countries. The recent pledge to eliminate coal power by 2035 is the latest testament to this growing momentum.
Despite progress, the G7 faces challenges. Ensuring just transitions for communities dependent on fossil fuels and delivering promised financing to developing nations are critical. However, the G7 can amplify the global push toward a sustainable future with a unified front. Its policies can significantly influence investment flows, technological innovation, and the overall trajectory of the world’s energy systems.
Beyond coal: the road ahead
The agreement builds on last year’s G7 accord on phasing out fossil fuels. The decision has far-reaching implications for the UK’s renewable energy sector. It underscores the UK government’s commitment to ambitious net-zero targets and strengthens its leadership position on climate action. With coal all but phased out of the UK’s energy mix – Nottingham’s Ratcliffe-on-Soar coal plant is expected to remain open until September 2024 – this move encourages further investment into renewable technologies and solidifies confidence in the growth and viability of the sector.
