G7 reaches deal to shut down coal plants by 2035

ISTANBUL

The Group of Seven energy ministers on Monday pledged to close their coal plants by 2035 at the latest, potentially setting a global example for fighting the climate crisis, media outlets reported.

“We do have an agreement to phase out coal in the first half of the 2030s,” Andrew Bowie, a UK minister at the Department for Energy Security and Net Zero, told Italy’s Class CNBC television in Turin, where they are meeting.

“This is, by the way a historic agreement, something that we weren’t able to achieve at COP28 in Dubai last year,” he added, referring to the UN climate change conference.

“So, to have the G7 nations come around the table to send that signal to the world – that we, the advanced economies of the world are committed to phasing out coal by the early 2030s – is quite incredible,” he added.

The ministers attending are expected to finalize the agreement on Tuesday, according to Italian Energy Minister Gilberto Pichetto Fratin.

The US State Department declined to discuss the reported agreement.

The Biden administration last week unveiled landmark regulations aimed at reducing harmful emissions from power plants, requiring coal and new natural gas facilities to capture or cut 90% of their climate pollutants by 2032.

The rules are forecasted to slash carbon dioxide emissions from the sector by 75% compared to 2005 levels.

They would go into effect if Biden wins reelection this fall. If his rival, Donald Trump, wins a return to the Oval Office, the former president has vowed to end programs to fight global warming, which he has called a “hoax.”