The world’s richest nations have agreed to end their financial support for coal development overseas, in a major step towards phasing out the dirtiest fossil fuel. Japan, one of the world’s biggest sources of finance for coal power, along with China, held out on agreeing to stop helping to build until the final stages of the two-day virtual meeting. Japan, China and South Korea in particular have offered to help build coal-fired power plants in cash-strapped developing countries. “[There was] a greater sense of urgency than I have felt in G7 countries as a unit,” he said. Barbara Pompili, France’s environment minister, said: “I am delighted that an agreement could be found regarding a key aspect of our G7 communique: the absolute end of new direct government support for international coal power generation.

Source: The Guardian May 21, 2021 15:16 UTC