G7 plans to work together to mitigate dangers associated with Russian gas supplies

Business & Economy April 16, 2023, 19:21

The G7 ministers also acknowledged the recent success of the initiatives to cut demand for gas and diversify sources of supply

TOKYO, April 16. /TASS/. Climate, energy, and environment ministers from the Group of Seven (G7) countries met in Sapporo, Japan, to reiterate their commitment to achieving net zero emissions of greenhouse gases from the extraction and production of fossil fuels by 2050. They also agreed to coordinate their actions to reduce risks allegedly posed by Russian gas exports, according to a joint statement issued by Japan's Ministry of the Environment following the meeting on Sunday.

The G7 ministers also acknowledged the recent success of the initiatives to cut demand for gas and diversify sources of supply, according to the statement. They stated that they expect the International Energy Agency's (IEA) position in the gas sector to be expanded.

The agreement also noted that the G7 countries that desire to continue utilizing nuclear energy are committed to diversifying the supply of civilian nuclear components in order to lessen reliance on Russia in this area.

Against the backdrop of the Ukrainian crisis, the G7 countries pledged to continue their efforts to develop sustainable agriculture and food systems.

The ministers agreed to develop up to 150 GW of wind energy by 2030, as well as up to 1 TW of solar energy. The ministers also agreed to cut greenhouse gas emissions in the car sector by half by 2035 compared to 2000. In addition, they set a target of 100% electric and hybrid vehicles in new passenger car sales by 2035.

The ministers pledged to keep reducing CO2 emissions in order to keep the average temperature growth at around 1.5 degrees Celsius. Furthermore, summit attendees confirmed their resolve to provide funding in the amount of $100 bln annually by 2025 to combat climate change. The ministers also stated that they will work to eliminate plastic waste pollution by 2040.

Climate, energy, and environment ministers met in Sapporo on April 15-16.

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