The world’s most powerful leaders sent out a mixed message about climate change policies by repeating net-zero emission promises while refusing to phase out coal.The world’s most powerful leaders sent out a mixed message about climate change policies by repeating net-zero emission promises while refusing to phase out coal.
After three days of discussion at Carbis Bay, England, the G7 floundered once more on the burning issue of coal.
The G7’s final statement that “recognizing coal power generation is the single biggest cause of greenhouse gas emissions” came without a phase-out date for coal use.
That said, the leaders did “commit to net-zero no later than 2050, halving collective emissions over the two decades to 2030.” They also promised “increasing and improving climate finance by 2025 … and to conserve or protect at least 30 percent of our land and oceans by 2030.”
Repetition of the net-zero emissions target matches the Paris Agreement. Participating countries have agreed to cut greenhouse gas emissions to limit global temperature rises to 1.5°C by 2050.
Is It the End of Coal Subsidies?
The leaders’ statement promised “international investments in unabated coal must stop now.” It continued: “We commit now to an end to new direct government support for unabated international thermal coal power generation by the end of 2021.”
Unabated coal refers to coal power generation without any carbon dioxide technology to reduce emissions.
This promise seems achievable because coal receives relatively few government subsidies compared to other fossil fuels. The G20 governments spent around $13 billion annually on coal between 2017-2019, a small fraction of the average $584 billion given to fossil fuels annually in the same period. Oil and gas were the biggest winners of subsidies, taking 47% of the total fossil fuel support.
G7 leaders promised “eliminating inefficient fossil fuel subsidies by 2025,” but tellingly with no definition of what makes a fossil fuel inefficient. The G7 did agree that by 2021, they will stop financing coal plants and mines beyond their borders. Political observers think the G7 was sending a message to China, by far the world’s largest backer of coal.
What About Coal’s Immediate Future?
Also present at the G7 meeting were leaders of Australia, India, the Republic of Korea, and South Africa. The coal decision is significant to India, which produced 10% of the world’s coal in 2020, second only to China, responsible for 49.6%.
India expects a 9% growth in coal this year. In early 2020, the Indian Government cleared operations for 10 coal projects that could push figures higher. China will only start to phase out coal from 2026 onwards.
Therefore, coal isn’t facing an immediate existential threat on a global level. In 2019, coal was the second-largest source of primary energy (27%),behind only oil (33.1%) and above gas (24.2%).
The International Energy Agency (IEA) predicts an increase in coal production in 2021, with flatlining only likely to happen in 2025.
Differing Views to the Burning Issue
Prime Minister Boris Johnson said: “G7 countries account for 20% of global carbon emissions, and we were clear this weekend that action has to start with us.”
Extinction Rebellion, a global environmental protest group, was less impressed. Activist Melissa Carrington said: “This weekend was a key moment … and they’ve made more hollow promises.”
The U.K. also hosts the 26th U.N. Climate Change Conference of the Parties (COP26) in Glasgow from November 1-12 this year, when coal and fossil fuel use will be on the agenda once more.
Opinion writer: Tom Shearman
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