In a communiqué issued on 13 June, the G7 countries committed to ending, by the end of the year, all new direct government support for unabated international thermal coal power generation.
The G7 also pledged to end new direct public support for carbon-intensive international fossil energy “as soon as possible” with “limited exceptions”, while reiterating its commitment to end “inefficient fossil fuel subsidies” by 2025.
On climate finance, the G7 countries reaffirmed the collective goal of developed countries to mobilise $100 billion per year for developing countries until 2025. During the summit, Germany also announced that it would increase its contribution to climate financing from €2 billion per year to €6 billion until 2025.
See the G7 communiqué: https://bit.ly/3q2G6pX (Original version in French by Damien Genicot)