June 11, 2015
The G7 is a pack of economically heavy hitting countries including Italy, Germany, the United Kingdom, France, the United States, Canada, Japan and the European Union. The G7 may be informal, but when they make an announcement, it’s generally something that other governments around the world pay attention to.
And as of this week, the G7 is agreeing to phase out fossil fuels entirely by 2100. Additionally, they have agreed to make 100% of all their electricity generation come from clean sources by 2050, yet another leap in the right direction. To help developing countries make similar transitions, the summit also agreed to establish a $100 billion-per-year fund slated for aiding developing countries in preparing for, and adapting to climate change.
The G7’s latest summit took place in Germany, with the G7 leaders agreeing to conform to the IPCC’s recommendations to cut global greenhouse gas emissions 40-70% from 2010 levels by 2050. Leading up to December’s UN Climate Summit, the G7’s announcement is being hailed by some environmental groups as hope for total decarbonization to be a main agenda item in Paris.
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