Energy Headlines

August 30, 2016

G7 leaders pledge to ‘decarbonise’ economies by end of century

G7 leaders have agreed to “decarbonise” their economies by the end of the century and to cut by 2050 global greenhouse gas emissions by the “upper end” of 40 to 70 per cent, compared with 2010 levels.

Ahead of year-end UN climate talks in Paris, the leaders of the seven leading industrial nations reaffirmed in Bavaria a 2009 commitment to a 2 degree limit on global warming compared with preindustrial levels.

They also voiced “strong determination” to adopt legal tools in Paris that are “ambitious, robust, inclusive and reflects evolving national circumstances”.

The leaders agreed to work with the World Bank to increase financing for green projects in developing nations, and to assist them in reducing dependence on fossil fuels and greenhouse gas emissions.

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