HomeTop Global NewsG7 Sets New Solar and Energy Goals

G7 Sets New Solar and Energy Goals

The Group of Seven set new big targets for its solar power and offshore wind capacity during its meeting on Sunday, with its members agreeing to accelerate their renewable energy development in an effort to phase out fossil fuels.

This decision comes after a two-day meeting on climate, energy, and environmental policy in the northern Japanese city of Sapporo. Russia’s invasion of Ukraine has elevated the urgency for the G7’s plan to establish new energy sources.

“While acknowledging that there are diverse pathways to achieve carbon neutral, we agreed on the importance of aiming for a common goal toward 2050,” Japanese industry minister Yasutoshi Nishimura stated during a news conference.”

Nishimura’s comments refer to the G7’s resolution to accelerate the phasing out of fossil fuel burning and the resulting CO2 emissions in order to achieve net zero in energy production by 2050. This comes in addition to the group’s decision last year to at least decarbonize most of their power sectors by 2035.

Home Sales Plummeted in August According to Pending Data

Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the...

Stocks Fall After the Release of GDP Data

U.S. stocks declined on Thursday as investors digested the latest round of GDP data. Estimates on Thursday showed that the U.S. economy's GDP for...

Hyundai and Kia Recall Over 3 Million Vehicles Due to Fire Risk

Hyundai and Kia are in the process of recalling over 3.4 million vehicles in the United States due to a fire risk. Both automakers...