The G7 nations have agreed to hasten the deployment of renewable energy and curtail natural gas consumption in a bid to accelerate the phasing out of fossil fuels, according to a communique issued on Sunday.
The G7 is an informal grouping of seven of the world’s advanced economies, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union.
The group recognized the need to reduce gas usage but stated that investments in the sector could address potential energy shortfalls.
The G7 ministers are in Sapporo for a two-day meeting on climate, energy, and environmental policies.
Energy security and renewable sources have taken on greater significance following Russia’s invasion of Ukraine.
The host country, Japan, which relies heavily on imports for its energy requirements, wants to maintain liquefied natural gas (LNG) as a transitional fuel for 10 to 15 years.
The communique pledged to significantly increase electricity generated by renewable energy sources, promising to increase offshore wind capacity by 150 gigawatts and solar capacity to over 1 terawatt by 2030.
“We will drastically increase electricity generated by renewable energies,” the members said in the communique.
The G7 nations also agreed to accelerate the phasing out of unabated fossil fuels, aiming for net zero in energy systems by 2050 at the latest.