Highlight: The leaders of the G7 summit have pledged climate action. But it disappoints activists. The Carbis Bay in Cornwall conducted the event. It is a resort in southwest England.
The G7 nations have come up with a pledge to raise $100bn per year. This amount will aid poor countries to cut down emissions.
The G7 nations have promised:
• To help developing countries move away from the usage of coal.
• They have also agreed to step up action on Climate Change around the globe.
The UK Prime Minister Boris Johnson hosted the three-day event.
On Friday he gave an official statement. It said that action needs to start with G7 nations.
Although big promises were made. Some of the environmental groups said that both details and clarity were missing.
The concerns raised are as follows:
• First, significance of G7’s pledge on climate change.
• Second, risk of reaching the predicted temperature level soon.
• Last, the call to access the famine-hit Ethiopian Regions.
Earlier in 2009, the developed countries agreed to contribute $100bn a year by 2020. The purpose was to finance poorer countries to deal with climate change. However, the target was not met. A part of it is because of the Covid-19 pandemic.
Nonetheless, the G7 nations have agreed to contribute. But, Teresa Anderson from Action Aid said that the set target does not meet the urgency and scale of the crisis.
One of the key themes of the G7 Sumit-2021 is Climate Change. The nations of the G7 summit are – UK, US, Canada, Japan, France, Germany, and Italy. The summit is committed to keeping the projected global temperature to 1.5 degrees Celsius.
To summarize, assurance to contribute $100bn/year was given. The contribution will be from both the private and public sectors. The decided period is through to 2025.
Background of the initiative:
The promise to help poorer nations move away from coal initially came from the White House. The plan is to phase out the burning of coal. The only exception is with carbon capture technology.
The strategy is to offer up to $2.8bn to stop using coal as a fuel. Also, the funding of new coal generation will be stopped. The said criteria will be applicable to developing nations.
The world’s dirtiest major fuel is currently coal. A major step is to stop its usage, according to environmentalists. Also, the rich countries should guarantee. That they will help poor countries to deal with the climatic changes.
Big promises are made, the expectation is that the G7 nations will stand on the said words. That, the poor countries will be provided with all kinds of support. The world needs to fight this battle together.
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