G7 to halt new support for unabated coal by year-end
Countries to focus on accelerating progress of technologies including hydrogen, batteries and carbon capture, usage and storage
The G7 nations have committed to end new direct government support for unabated thermal coal power generation by the end of this year, according to a statement issued following recent talks hosted by the UK. “To accelerate the international transition away from coal, recognising that continued global investment in unabated coal power generation is incompatible with keeping 1.5°C within reach, we stress that international investment in unabated coal must stop now,” the G7 says. “Domestically, we commit to achieve an overwhelmingly decarbonised power system in the 2030s” G7 statement The ban on direct support includes Official Development Assistance, export finance, investment, and int
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation