G7 Nations pledge to produce carbon-free electricity by 2035
POWER & RENEWABLE ENERGY

G7 Nations pledge to produce carbon-free electricity by 2035

By 2035, the Group of Seven (G7) countries promised to phase out coal use and produce all of their electricity carbon-free. During a two-day conference conducted in Sapporo, Japan in advance of the G7 summit scheduled for Hiroshima in May, an agreement was made.

The G7 countries are essential in reducing the effects of climate change as they produce 25% of the world's carbon emissions and 40% of the world's economic activity.

The participants also pledged to stepping up investments in renewable energy, with the goal of producing 1,000 GW of solar energy and 150 GW of wind energy from offshore platforms by 2030.

This is consistent with the IPCC's recommendations to keep the rise in global temperature to 1.5°C above pre-industrial levels by the end of the century.

The accord also reiterated that fossil fuel subsidies are incompatible with the objectives of the Paris accord and emphasised the significance of gradually eliminating ineffective fossil fuel subsidies.

By 2025, the participants agreed to end such subsidies.

The final agreement also stipulated that by the end of 2021, all new direct government assistance for the production of thermal coal would be discontinued, and by 2022, all public support for the continued use of fossil fuels would be discontinued globally.

By 2035, the Group of Seven (G7) countries promised to phase out coal use and produce all of their electricity carbon-free. During a two-day conference conducted in Sapporo, Japan in advance of the G7 summit scheduled for Hiroshima in May, an agreement was made. The G7 countries are essential in reducing the effects of climate change as they produce 25% of the world's carbon emissions and 40% of the world's economic activity. The participants also pledged to stepping up investments in renewable energy, with the goal of producing 1,000 GW of solar energy and 150 GW of wind energy from offshore platforms by 2030. This is consistent with the IPCC's recommendations to keep the rise in global temperature to 1.5°C above pre-industrial levels by the end of the century. The accord also reiterated that fossil fuel subsidies are incompatible with the objectives of the Paris accord and emphasised the significance of gradually eliminating ineffective fossil fuel subsidies. By 2025, the participants agreed to end such subsidies. The final agreement also stipulated that by the end of 2021, all new direct government assistance for the production of thermal coal would be discontinued, and by 2022, all public support for the continued use of fossil fuels would be discontinued globally.

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?