Group of Seven Agrees to Stop International Funding for Coal
- Diplomatic win for U.K. ahead of climate talks this year
- International financing must be in line with Paris goals
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The Group of Seven nations agreed to stop international financing of coal projects this year, in a move that was welcomed by activists.
The countries agreed to align their policies to the key target of keeping global temperature rises within 1.5°C. International financing will be synced with the global goal of achieving net zero greenhouse gas emissions no later than 2050. They will also commit to “deep emission reductions in the 2020s.”