• Updated: 22/05/2021 - 14:04
The world’s richest countries have pledged to end public support for coal-fired power stations this year.
Three weeks before a summit in England, the G7 countries pledged ambitious and accelerated efforts to reduce their CO2 emissions.
Made up of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, the G7 said limiting the rise in temperature to below 1.5°C above pre-industrial levels would require significant action by all countries and in particular the major emitting economies .
The 1.5°C target is the point at which scientists believe climate change will get out of hand.
In climate push, G7 agrees to stop international funding for coal
Reuters | May 22, 2021 12:21 AM EDT
Heavy equipment excavate anthracite coal from a strip mine in New Castle, Pennsylvania, (Photo : REUTERS/Dane Rhys/File Photo)
The world s seven largest advanced economies agreed on Friday to stop international financing of coal projects that emit carbon by the end of this year, and phase out such support for all fossil fuels, to meet globally agreed climate change targets.
Stopping fossil fuel funding is seen as a major step the world can make to limit the rise in global temperatures to 1.5 degrees Celsius above pre-industrial times, which scientists say would avoid the most devastating impacts of climate change.
By Reuters Staff
2 Min Read
JAKARTA, April 29 (Reuters) - Indonesia will stop both liquefied petroleum gas (LPG) and fuel imports by 2030 and plans big changes to its energy infrastructure to meet that target, a top energy official said on Thursday.
President Joko Widodo has tasked the National Energy Council, a board made up of seven ministries and other stakeholders that plans energy policy, to devise a strategy to allow for a halt on LPG and fuel imports, said the council’s secretary general, Djoko Siswanto.
Once a former OPEC member, maturing fields and investment lags has turned Indonesia to a net importer of oil and gas. The president has for years announced steps to cut imports, in a bid to contain the country’s current account deficit.
Indonesia has drawn up proposals to bring in a carbon tax to curb greenhouse gas emissions, in addition to raising VAT rates and reforming income tax, as part of a major overhaul of the tax system, a finance ministry document showed.