Recently, the G-7 announced in Japan that it will scrap the fossil fuel subsidy by 2025. This is the first time that the G-7 has explicitly announced its "retirement" of fossil fuel subsidies such as coal, oil and gas.
In the meantime, the G-7 and the EU also encourage all countries to completely eliminate their fossil fuel subsidies within a decade.
According to the leaders' declaration released at the just-concluded G-7 summit in Japan, "the production of greenhouse gases from fossil fuel production and use already accounts for two-thirds of the global total, so we must recognize that the energy used in dealing with the climate The key role for change. "
Shelagh Whitley, a researcher with the Overseas Development Institute, said: "This is a historic day, but if the government can seriously honor its commitment at the Paris Climate Conference in December last year, all fossil fuel subsidies will be lifted by 2020 Is a better choice. "
In recent years, with the substantial decline in the price of petroleum and other fossil fuels, the subsidies for fossil fuel in the G7 countries are also gradually declining. However, except in Britain. At the same time, Japan is also controversial over its plans to add coal projects at home and abroad.
Whitley said: "At the Paris conference last year, we saw the Group of Seven moving in the wrong direction, just because the deadline for canceling fossil fuel subsidies was announced.
Not long ago, Canada, one of the G-7 groups, also announced the extension of the gas subsidy period.
It is worth noting that in the statement released by the G-7 this time, there is no clear definition of what is a fossil fuel subsidy. According to the OECD's estimate, each member country's support for fossil fuels reaches 160-200 billion U.S. dollars. However, the International Monetary Fund believes that if pollution and climate change damage costs are taken into account, this figure will reach 5.3 trillion U.S. dollars, equivalent to 10 million U.S. dollars per minute. This goes far beyond spending on human health.
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