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G7 meeting to increase aid for poor countries to tackle climate change

by admineconai May 27, 2022
written by admineconai May 27, 2022
857

Ministers from the world’s wealthiest democracies will be meeting in Berlin on Thursday to reach agreements on boosting financial aid for poor countries to cope with climate change.

The meeting, which will be overshadowed by surging energy costs and fuel supply worries sparked by the war in Ukraine, will also seek additional funds for biodiversity, protecting oceans and reducing plastic pollution.

Energy, climate and environment ministers from the Group of Seven (G7) countries want to reaffirm a commitment to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit) and protect biodiversity at the meeting.

Read also: Island states support Vanuatu’s quest for climate justice

During the meeting, the ministers will also seek to agree on common targets for the shift from fossil fuels to renewable energy that scientists say is urgently needed to curb catastrophic climate change.

Senior associate at climate think-tank E3G,Alden Meyer said that tackling climate change remains the best and quickest way for countries to achieve energy security.

“Delivering on climate promises really becomes even more vital in this tense geopolitical environment,” Meyer said. “Climate impacts are worse than scientists originally predicted and there’s far worse ahead if we don’t cut emissions rapidly”.

While the ministers are also expected to consider committing to a phase-out of coal power generation by 2030, a draft communique, though sources suggested that opposition from the United States and Japan could derail such a pledge.

In his reaction, Germany’s energy and climate minister, Robert Habeck said that the G7 can lead the way on ending the use of coal, a heavily polluting fossil fuel that is responsible for a large chunk of global greenhouse gas emissions.

“The G-7 … can perhaps take on a certain pioneering role to push forward ending the use of coal for electricity and in decarbonising the transport system,” Habeck said.

Environmental groups have since warned countries such as Germany that they risk undermining their green goals by scrambling to secure new sources of natural gas – including from the United States – to make up for the shortfall in supplies from Russia.

Story was adapted from Reuters.

Climate changeFinanceMinistersPoverty countries
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