Today, President Biden and fellow G7 Leaders agreed to a set of concrete actions to accelerate the global transition away from coal generation as part of our efforts to combat the climate crisis.
Accelerating Decarbonization and Transition from Unabated Coal: Confronting the climate crisis presents a historic opportunity to drive our economic recovery, create millions of good-paying union jobs, and build back better as we invest in a more resilient, prosperous, equitable, and secure future. Recognizing that unabated coal power generation is the single biggest source of greenhouse gas emissions globally, and consistent with President Bidenās domestic leadership, 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. To support key developing countries in their transitions away from unabated coal, Canada, Germany, the UK, and the United States will also include a new collective commitment to provide up to $2 billion to support the work of the Climate Investment Funds focused on accelerating the transition from coal for key developing countries while investing in technology, job training, and infrastructure to enable the transition to a more reliable and prosperous clean energy economy.
Accelerating Decarbonization and Transition from Unabated Coal: Confronting the climate crisis presents a historic opportunity to drive our economic recovery, create millions of good-paying union jobs, and build back better as we invest in a more resilient, prosperous, equitable, and secure future. Recognizing that unabated coal power generation is the single biggest source of greenhouse gas emissions globally, and consistent with President Bidenās domestic leadership, 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. To support key developing countries in their transitions away from unabated coal, Canada, Germany, the UK, and the United States will also include a new collective commitment to provide up to $2 billion to support the work of the Climate Investment Funds focused on accelerating the transition from coal for key developing countries while investing in technology, job training, and infrastructure to enable the transition to a more reliable and prosperous clean energy economy.