Is the G7 doing enough on climate change?
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Welcome to today’s episode of The Jolt, arming you with the news and insight you need to navigate the rapidly changing shift towards a decarbonised economy.
Here are the main climate and energy stories making the news around the world:
- Host of the G7 climate ministers meeting, Italy, wants countries in the group to agree on a target date for phasing out coal in power generation, according to diplomatic sources speaking to Reuters.
- G7 climate ministers could also agree on a global target to increase electricity storage capacity sixfold from 2022 up to 2030. The Financial Times reports that the seven economic powerhouses have agreed in principle to set a goal of 1,500 gigawatts of storage by 2030.
- COP29 host Azerbaijan will defend the right of fossil fuel producing nations to invest in the sector, according to the country’s president.
- The United Nations has launched a new initiative to ensure fairness, sustainability and respect for human rights throughout the critical minerals supply chain. The new Panel on Critical Energy Transition Minerals will develop common and voluntary principles to protect environmental and social standards.
- Bulgaria and Poland need to increase their ambition to reach the European Union’s 2030 targets, according to the European Commission’s analysis of their climate and energy plans.
- Italy no longer needs Russian fossil gas and would back EU sanctions on liquified supplies, the country’s energy minister told Politico. Meanwhile, Reuters reports that Italy could be changing its mind about nuclear, with its energy minister saying he sees a role for this alongside renewables.
