27 May '16, 10pm

G7 Countries Pledge to End Fossil Fuel Subsidies by 2020

Leaders of the G7 countries including President Obama today pledged to end fossil fuel subsidies by 2025 at the G7 summit in Japan. This new commitment comes as the seven countries — Canada, France, Germany, Italy, Japan, the UK and the US — gave more than $42 billion to coal mining and power projects between 2007 and 2015, with $2.5 billion to coal in 2015 alone, according to an NRDC report . In the G7 Leaders’ Declaration , the countries’ leaders say they “remain committed to the elimination of inefficient fossil fuel subsidies and encourage all countries to do so by 2025.” The leaders have previously discussed a fossil fuel phase but have never before set a deadline for this to happen. Dale Vince, founder of clean energy company Ecotricity, told the Independent that the deadline should have been 2020 and cautioned: “we have to be careful that the definition of ‘subsidy’...

Full article: http://www.environmentalleader.com/2016/05/27/g7-countrie...

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