G7 reaches agreement to shut down CFPPs by first half of 2030s
![Sumitomo to cease Onahama coal-fired power plant operations in decarbonization move](https://sustainabilityeconomicsnews.com/wp-content/uploads/2023/12/coal-power-station-cpec-scaled-e1612893868599.webp)
Energy ministers from the Group of Seven (G7) major democracies have agreed to close down their coal-fired power plants by the early 2030s, marking a substantial move towards transitioning away from fossil fuels.
“There is a technical agreement, we will seal the final political deal on Tuesday,” said Italian energy minister Gilberto Pichetto Fratin, who is chairing the G7 ministerial meeting in Turin.
Also read: Multilateral lender approves $85 million investment for North Macedonia CFPP transition
On Tuesday, the ministers will release a final statement outlining the G7’s plans to reduce carbon emissions in their economies.
Pichetto mentioned that the ministers are also considering potential limitations on Russian liquefied natural gas imports to Europe, a proposal that the European Commission will soon put forward.
“The issue is on the technical and political agenda (of the G7). We are working on it, I cannot go any further… if there is a final decision I will communicate it,” the minister said in a briefing with journalists.
Also read: Japan initiates testing of ammonia-coal mix to reduce emissions from CFPPs
Coal plays a significant role in Germany and Japan, accounting for over 25% of total electricity production last year.
During Japan’s presidency last year, the G7 committed to taking tangible steps towards phasing out coal power generation without specifying a particular deadline.
Italy’s agenda for the meeting includes discussions on nuclear energy and biofuels. Pichetto mentioned that both topics will be addressed in the final statement as options for G7 nations to decarbonize power generation and transportation.
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