The Group of Seven (G7) nations have committed to phasing out coal power in the first half of the 2030s. The announcement was made during a meeting in Turin, Italy, marking the first major political gathering since the COP28 conference in December, where global leaders pledged to transition away from fossil fuels.
Andrew Bowie, the UK's minister in the Department for Energy Security and Net Zero, confirmed the news to Class CNBC, highlighting the significance of the agreement.
Dal #G7Italy l'intervista esclusiva a @AndrewBowie_MP ministro britannico per energie rinnovabili e nucleare. A @SilviaBerzoni dice:
"Abbandoneremo il carbone nella prima metà del 2030" pic.twitter.com/vBVCTi62jt
— Class CNBC (@classcnbc) April 29, 2024
G7 countries collectively generated 16% of their electricity from coal in 2023, a substantial decrease from 29% in 2015, according to data from energy think tank Ember. Japan reported the highest share of coal-generated electricity at 32% in 2023, followed by Germany at 27%. The US aligned with the G7 average at 16%, while France (0.4%), the UK (1.4%), Canada (5%), and Italy (5.3%) have mostly phased out coal.
Dave Jones, Ember's Global Insights program director, praised the G7's commitment to phase out coal but cautioned that the shift must also address gas power. While coal usage has declined, gas power generation has increased. G7 nations generated 34% of their electricity from gas in 2023, up from 29% in 2015.
