During a recent meeting in Turin, Italy, energy ministers from the G7 countries have come to a groundbreaking agreement to phase out their coal-fired power plants by the early 2030s. Andrew Bowie, the U.K.
's minister responsible for nuclear and renewables, hailed the deal as "historic" in an interview with CNBC. According to reports from an Italian diplomatic source cited by The Financial Times, the ministers have outlined the terms of the agreement and plan to make a formal announcement after the conclusion of their meetings on Tuesday.
The final agreement may allow for some flexibility in the timeline, potentially accommodating countries like Japan that heavily rely on coal, while still aiming to limit the global temperature rise to 1.5°C above pre-industrial levels in line with net zero pathways. If finalized, this agreement would signify a significant step towards the goals set at the COP28 United Nations climate summit last year to transition away from fossil fuels.
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