G-7 Nations pledge to accelerate efforts against Global Warming

Environment ministers from seven industrialised nations or G7 grouping agreed to accelerate efforts against global warming during a two-day virtual meeting hosted by United Kingdom, holding presidency of G7 currently.

Highlights

• They also committed to stop government support for new coal-fired power plants by the end of 2021.
• Extended support to limit global temperature rises to 1.5 degrees Celsius over pre-industrial levels as compared to earlier goal of 2 degrees.
• They also promised to take necessary measures to curb deforestation, curb overfishing, to promote biodiversity and to tackle issue of ocean plastic.
• They also extended commitment towards preventing future outbreaks of COVID-19 like diseases spreading from animals to humans.

Background

G7 countries released statement after International Energy Agency (IEA) released a report and stated governments needed to ramp up efforts towards reducing emissions of carbon dioxide and other greenhouse gases in order to reach their goal of net-zero emissions by 2050. IEA in its recommended to immediately end investment in new fossil fuel supply projects and stop sale of gasoline- and diesel-powered cars by 2035.

G7 members

It includes U.S., Canada, Britain, Italy, France, Germany and Japan. China is not the member despite being world’s biggest source of carbon emissions.

International Energy Agency (IEA)

IEA is a Paris-based autonomous intergovernmental organisation which was established under the framework of Organisation for Economic Co-operation and Development (OECD). It was established in 1974 in the aftermath of 1973 oil crisis. It produces World Energy Outlook, annually.

Month: Current Affairs - May, 2021