G7 countries pledged to : Members of G7 countries have agreed on a plan to phase out the use of gasoline and diesel-powered vehicles by 2030.
The G7 countries see this initiative as an alternative to China’s belt and road initiative, which China has promoted in Africa and developing countries, as part of a comprehensive Green Belt and Road Initiative aimed at providing developing countries with billions of dollars in aid and investments required to reduce carbon emissions.
According to a British Government report, the G7 nations want to agree to a “nature Compact” that will “halt and reverse” biodiversity loss by 2030. The plan calls for conserving or protecting 30 percent more land and ocean by the end of 2030, respectively.
“The G7 will endorse a Nature Compact at this afternoon’s meeting to halt and reverse biodiversity loss by 2030 – including supporting the global target to conserve or protect at least 30 percent of land and 30 percent of ocean globally by the end of the decade.”
The group also agreed to start action plans required to slash carbon emissions which include ending government support for the fossil fuel energy sector overseas and phasing out petrol and diesel cars.
“Leaders will set out the action they will take to slash carbon emissions, including measures like ending all unabated coal as soon as possible, ending almost all direct government support for the fossil fuel energy sector overseas and phasing out petrol and diesel cars.” – UK Government
Boris Johnson, the Prime Minister of the United Kingdom, stated:
“The most important thing we as leaders can do for our people is to protect our planet. Reducing emissions, restoring nature, creating jobs, and ensuring long-term economic growth all have a direct relationship.
G7 countries pledged to….
“As democratic nations, we have a duty to assist developing countries in reaping the benefits of clean growth through a fair and transparent system.” The G7 has a once-in-a-lifetime opportunity to drive a global Green Industrial Revolution that has the potential to transform the way we live.”
The G7 is also expected to commit to nearly halving their emissions by 2030 in comparison to 2010. The United Kingdom is already going even further, pledging to reduce emissions by at least 68 percent by 2030 compared to 1990 levels (58 percent reduction on 2010 levels).
The US government also confirmed the UK’s comments about the end of direct support for thermal coal power generation.
“Accelerating Decarbonization and Transition from Unabated Coal: Addressing the climate crisis presents a historic opportunity to drive our economic recovery, create millions of good-paying union jobs, and rebuild better as we invest in a more resilient, prosperous, equitable, and secure future.”
“G7 Leaders will commit to an end to new direct government support for unabated international thermal coal power generation by the end of this year, recognizing that unabated coal power generation is the single largest source of greenhouse gas emissions globally, and consistent with President Biden’s domestic leadership.”
This new agreement poses a direct threat to Nigeria’s economic future, as the Nigerian government depends on crude oil exports for more than half of its revenue.
G7 countries pledged to…