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CLIMATEWIRE | A move by the world’s wealthy, developed economies to end the use of coal-fired power by 2035 could further cement U.S. efforts to put an end to the most polluting form of energy and encourage other countries to follow.
G7 climate and energy officials reached an agreement to phase out coal in the first half of the 2030s during talks that started Sunday in Turin, Italy.
Under that decision, they committed to phase out “existing unabated coal power generation,” while reducing the use of coal power for energy up to 2035. They also pledged to work with other countries and the financial sector to end the approval of new coal-fired power plants “as soon as possible,” according to a communique ministers issued at the end of their meeting Tuesday.
That communique is more a statement of intent than a binding agreement, but it would mark the first time a group of advanced economies have set a common date for a coal phase-out, sending a strong political signal that could accelerate the shift to clean energy in growing economies in Asia, analysts say.
It also signals steps those countries are planning to take to meet a landmark agreement reached at COP28 climate talks last November to transition away from fossil fuels.
“To have the G7 nations come around the table and send that signal to the world that we, the advanced economies of the world are committing to phasing out coal by the early 2030s is quite incredible,” Andrew Bowie, the United Kingdom’s minister for energy security and net zero, told Class CNBC on Monday when previewing the decision.
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Steam billows out of the stacks at the FirstEnergy Corp. Bruce Mansfield coal-fired power plant in Shippingport, Pennsylvania, U.S., on Wednesday, Dec. 6, 2017. Justin Merriman/Bloomberg via Getty Images
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