G7 Agrees to Stop Overseas Funding of Coal

G7 countries have vowed to stop all new financing for overseas coal projects by the end of this year. G7 is throwing down a challenge to China and other middle and emerging economies: follow our lead and stamp down hard and fast on coal power. However, it noted that the G7’s determination was undermined by a mixed message from the group itself, with uncertainty over whether Japan has agreed to end foreign coal financing, and Japan and Germany balking at agreeing to end domestic coal-fired power by 2030. Japan and Australia have disputed the findings of the International Energy Agency’s report on reaching net-zero emissions by 2050, indicating they will continue fossil fuel investment despite the watchdog’s advice.

UK’s electricity grid is increasingly vulnerable to weird weather events as its reliance on low-carbon wind and solar power grows. Powerful gusts of wind sweeping across Britain have helped the country reach a new all-time high for electricity generated from wind turbines. Climate-heating carbon dioxide will be sucked from the air using trees, peat, rock chips, and charcoal in major new trials across the UK. Flood-prone communities may miss out on concrete flood defences under plans by the Environment Agency to cut its carbon footprint by focusing on nature-based solutions to flooding. European leaders are on a collision course over the looming impact of radical emission targets on their citizens and businesses as the cost of going green hits home across the EU. The EU is moving closer towards agreeing a tax on aviation as part of a wide-ranging revamp of fossil-fuel levies to help meet ambitious emissions goals.

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