Commodities and Futures News

G7 ministers agree to speed up renewable energy development -communique

2023.04.16 01:40


© Reuters. Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura, Environment Minister Akihiro Nishimura and other delegates attend the photo session of G7 Ministers’ Meeting on Climate, Energy and Environment in Sapporo, Japan April 15, 2023, in this

By Katya Golubkova and Yuka Obayashi

SAPPORO, Japan (Reuters) -The Group of Seven rich nations have agreed to speed up the development of renewable energy and called for reduced consumption as they aim to ramp up the phasing out of fossil fuels, the group said in a communique on Sunday.

While members recognised the need to reduce gas consumption, however, they also said investment in the sector can help address potential energy shortfalls, the communique showed.

Ministers from the G7 group of advanced democracies are gathering in the northern Japanese city of Sapporo for two days of meetings on climate, energy and environmental policy. The issues of renewable sources of fuel and energy security have taken on new urgency following Russia’s invasion of Ukraine.

Host country Japan, which is dependent on imports for nearly all its energy needs, wants to keep liquefied natural gas (LNG) as a transition fuel for at least 10 to 15 years.

“We will drastically increase electricity generated by renewable energies,” the members said in the communique, pledging to collectively increase offshore wind capacity by 150 gigawatts by 2030 and solar capacity to more than 1 terawatt.

The members also agreed to accelerate “the phase-out of unabated fossil fuels” – the burning of fossil fuels without using technology to capture the resulting C02 emissions – to achieve net zero in energy systems by 2050 at the latest.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 95,922.70 1.94%
ethereum
Ethereum (ETH) $ 3,309.79 3.15%
tether
Tether (USDT) $ 1.00 0.07%
solana
Solana (SOL) $ 247.35 3.66%
bnb
BNB (BNB) $ 647.28 1.57%
xrp
XRP (XRP) $ 1.34 10.35%
dogecoin
Dogecoin (DOGE) $ 0.410769 4.31%
usd-coin
USDC (USDC) $ 0.999711 0.06%
cardano
Cardano (ADA) $ 0.966766 8.60%
staked-ether
Lido Staked Ether (STETH) $ 3,310.33 3.35%
tron
TRON (TRX) $ 0.204319 4.55%
avalanche-2
Avalanche (AVAX) $ 39.50 5.92%
the-open-network
Toncoin (TON) $ 6.07 5.93%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 4.35%
stellar
Stellar (XLM) $ 0.475798 7.20%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,919.73 3.23%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 95,669.63 2.14%
polkadot
Polkadot (DOT) $ 8.40 2.45%
chainlink
Chainlink (LINK) $ 16.72 4.94%
bitcoin-cash
Bitcoin Cash (BCH) $ 499.96 1.87%
weth
WETH (WETH) $ 3,308.21 3.33%
sui
Sui (SUI) $ 3.29 5.10%
pepe
Pepe (PEPE) $ 0.000019 6.11%
near
NEAR Protocol (NEAR) $ 6.38 3.23%
leo-token
LEO Token (LEO) $ 8.40 2.45%
litecoin
Litecoin (LTC) $ 94.22 4.65%
aptos
Aptos (APT) $ 11.88 7.32%
uniswap
Uniswap (UNI) $ 10.35 6.01%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,483.02 3.45%
hedera-hashgraph
Hedera (HBAR) $ 0.140129 9.15%
usds
USDS (USDS) $ 1.00 0.28%
internet-computer
Internet Computer (ICP) $ 10.87 5.50%
crypto-com-chain
Cronos (CRO) $ 0.182499 7.93%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.537833 6.25%
ethereum-classic
Ethereum Classic (ETC) $ 27.63 7.13%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
render-token
Render (RENDER) $ 7.42 5.40%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.47 4.34%
kaspa
Kaspa (KAS) $ 0.149016 4.86%
bittensor
Bittensor (TAO) $ 500.95 2.95%
whitebit
WhiteBIT Coin (WBT) $ 24.15 2.29%
dai
Dai (DAI) $ 0.999388 0.10%
arbitrum
Arbitrum (ARB) $ 0.816294 5.49%
celestia
Celestia (TIA) $ 7.79 7.70%
bonk
Bonk (BONK) $ 0.000044 9.29%
mantra-dao
MANTRA (OM) $ 3.63 1.78%
vechain
VeChain (VET) $ 0.040447 3.63%
filecoin
Filecoin (FIL) $ 5.43 1.52%
cosmos
Cosmos Hub (ATOM) $ 8.22 0.32%
okb
OKB (OKB) $ 52.80 3.71%