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Monday, June 21, 2021

We commit to accelerate transition from coal

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Highlights of the G7 communique

  • We commit now to rapidly scale-up technologies and policies that further accelerate the transition away from unabated coal technology
  • We stress that international investments in unabated coal must stop now
  • We commit to take concrete steps towards an absolute end to new direct government support for unabated international thermal coal power generation by the end of 2021

This was leaked earlier. China is one country building coal capacity at the moment and you can see this is at least partly directed at them. Coal power is the single largest source of pollution that’s relatively easy to fix. The winners are natural gas, uranium and renewables for investors. I expect the US to convert nearly all its coal-powered electricity generation to natural gas in short order.

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