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G7 Commits to Phasing Out Coal by 2035 with Exceptions

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18 Dec, 2024

This post was originally published on Sustainability Times

Source: Sustainability Times

 

The Group of Seven (G7) nations reached a significant climate agreement this week, committing to end the use of “unabated” coal by 2035. This marks a pivotal moment in global climate negotiations, as the G7 represents some of the world’s largest economies. However, the agreement comes with important exceptions that allow certain countries to extend the deadline under specific conditions.

According to a communiqué released after talks in Turin, Italy, the G7 countries agreed to phase out the use of unabated coal power during the first half of the 2030s. The term “unabated” refers to coal power that isn’t paired with carbon capture technologies. This distinction is important because it allows countries to continue using coal past the 2035 target, as long as the carbon emissions from the coal are captured before entering the atmosphere. The agreement also permits countries to extend the deadline if their carbon emissions are aligned with keeping global temperatures within a 1.5°C rise above pre-industrial levels. This clause is based on the global goal to limit climate change and prevent irreversible damage to ecosystems.

Some G7 members have already made significant progress toward reducing coal use. Countries like the UK, Italy, and Canada have reduced coal’s share in their electricity mix to less than 6%, with France using almost none. However, coal still accounts for a substantial portion of energy production in Japan (32%), Germany (27%), and the US (16%), according to the think tank Ember. This new agreement places pressure on countries like Japan, which has not yet set a definitive end date for coal use.

The announcement comes just days after the US Environmental Protection Agency (EPA) introduced new regulations requiring coal-fired power plants to either capture nearly all their carbon emissions or shut down by 2039. These moves are part of a broader effort to reduce reliance on fossil fuels and mitigate climate change.

Despite the positive aspects of the G7’s agreement, some experts have criticized the 2035 deadline as too late to meet the 1.5°C target. Climate Analytics, a leading think tank, argues that coal use in G7 nations should end by 2030, with natural gas use following by 2035, to prevent dangerous climate impacts. The group also pointed out that gas has been the largest contributor to the rise in global CO2 emissions in the past decade, and many G7 countries are still investing in new gas infrastructure, which could undermine efforts to curb global warming.

Though the 2035 deadline is seen as a step in the right direction, the agreement leaves room for some flexibility, allowing individual countries to adjust their timelines based on their specific circumstances. Critics argue that this flexibility could undermine the urgency needed to address the climate crisis. They advocate for a faster transition to renewable energy sources and a more ambitious approach to reducing fossil fuel dependency.

The G7’s leadership in climate policy often sets the tone for global negotiations, influencing other major emitters like China and India. However, while the G7’s move to phase out coal is a breakthrough, experts believe the global community must accelerate the shift away from fossil fuels to avoid catastrophic climate impacts.

The post G7 Commits to Phasing Out Coal by 2035 with Exceptions appeared first on Sustainability Times.

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Unlocking Potential: How USAID Partnerships Enable Access to Climate Adaptation Finance

Unlocking Potential: How USAID Partnerships Enable Access to Climate Adaptation Finance

Unlocking Potential: How USAID Partnerships Enable Access to Climate Adaptation Finance
jschoshinski
Wed, 12/18/2024 – 17:45

This blog is the second in a series highlighting USAID Climate Adaptation Support Activity (CASA) support for the African Adaptation Initiative (AAI). The first blog explored the adaptation climate finance gap and CASA’s partnerships to build technical capacity for accredited entities to apply for funding from the Green Climate Fund (GCF).
Climate change is exacerbating existing vulnerabilities and threatening the livelihoods of millions of people around the globe. Africa is facing disproportionate impacts, with threats to food security, ecosystems, and economies fueling displacement and worsening the threat of conflict over limited resources across the region. Countries have articulated their priorities for addressing these climate risks in national policies and commitments.
USAID’s CASA supports the AAI to unlock critical adaptation funds from the GCF. In 2024, CASA continued this work by helping accredited entities apply for funding from GCF. Managed by national and sub-national governments, development banks, and other eligible institutions, these funds will enhance the region’s resilience to climate shocks and stressors.
The GCF is the world’s largest fund for mitigation and adaptation in developing countries. The Fund has committed 50 percent of adaptation finance to Least Developed Countries, Small Island Developing States, and African countries, representing 25 percent of overall GCF funds. Despite this commitment, eligible African entities, like national development banks, often need more technical capacity to complete the rigorous accreditation and proposal requirements to access the funding allocated to them.  
AAI strengthens collaboration on adaptation through high-level pan-African and regional dialogues, large-scale adaptation action on the ground, and efforts to bridge the adaptation financing gap. With support from CASA, AAI collaborates with economist Sandra Freitas and her team of over 70 experts at SSA to build the capacity of African institutions to access GCF adaptation finance.
In 2024, CASA worked with AAI and the Sustainable Solutions for Africa (SSA) to develop the Adaptation Finance Academy, a structured training program covering GCF policies and procedures to build technical skills in climate analysis and modeling, financial structuring, economic impact assessments, and environmental and social safeguarding. This December, CASA and SSA will host the first Academy, bringing in more than 50 experts from up to 25 countries for two weeks of training.  
The GCF proposal requires at least 22 annexes. You need climate scientists to do the climate rationale, project analysis, someone who understands GCF policies and asset modalities and templates, a project developer, financial technicians, and experts in whichever sector you are pursuing, from infrastructure to energy to agriculture. We have accepted the complexities of the climate finance ecosystem and are now focused on building capacity to work within these frameworks. We want to invest time and energy training the experts so they can thrive in the existing reality.
Sandra Freitas

Freitas’ team also provides on-demand support to GCF-accredited entities and government leaders to design and develop robust climate finance proposals. If these institutions successfully apply for GCF funding, it will help ensure that climate adaptation finance is more equitably distributed and programming decisions are made by the regions and countries most affected. 
“We hope that after the Academy, they can return to their home countries equipped to develop a funding proposal or concept note because we have demonstrated how it can be done. It’s complex, but it’s not impossible.”  
In Senegal, Freitas’ team works closely with one institution to develop a proposal to launch a climate-smart agriculture facility. This facility will establish a credit line to support smallholder farmers who are highly vulnerable to climate change and face challenges accessing finance. With GCF funding, the facility will provide financing, technical assistance, and capacity-building services to enhance agricultural productivity while reducing greenhouse gas emissions. 
Ultimately, this collaboration between USAID, AAI, and their technical partners demonstrates that a relatively small upfront investment in technical training and capacity building can enable countries to better anticipate, plan for, and respond to future climate challenges.

Teaser Text
USAID’s CASA supports the AAI to unlock critical adaptation funds from the GCF. In 2024, CASA continued this work by helping accredited entities apply for funding from GCF

Publish Date
Wed, 12/18/2024 – 12:00

Author(s)

Hannah Blair

Hero Image
Ghana_PSE.JPG

Blog Type
Blog Post

Strategic Objective

Adaptation

Region

Africa

Topic

Adaptation
Agriculture
Climate
Climate Finance
Climate Strategy Implementation
Locally-Led Development
Resilience

Country

Senegal

Sectors

Adaptation
Climate Finance

Projects

Climate Adaptation Support Activity (CASA)

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