Japan on Friday for the first time joined fellow members of the Group of Seven industrialised nations in pledging to end public financing for fossil fuel projects abroad by the end of the year to help combat global warming.
Ending subsidies for the international fossil fuel energy sector was already part of a series of commitments agreed to by around 20 countries at last year's COP26 climate summit in Glasgow. Friday's pledge still allows for some"limited" exceptions of fossil-fuel financing so long as they are consistent with the 2015 Paris pact to curb global temperature increases. But Meyer said countries wishing to do so would face"a very stiff bar to clear".
The pledge was welcomed by environmental campaigners, at a time when the war in Ukraine has sent energy prices soaring and Western countries are scrambling to wean themselves off Russian imports.
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