G7 leaders agree to phase out fossil fuel use by end of century

Source: The Guardian

The G7 leading industrial nations have agreed to cut greenhouse gases by phasing out the use of fossil fuels by the end of the century, the German chancellor, Angela Merkel, has announced.

On the final day of talks in a Bavarian castle, Merkel said the Group of Seven leaders had committed themselves to the need to “decarbonise the global economy in the course of this century”.

Environmental lobbyists described the announcement as a hopeful sign that plans for complete decarbonisation could be ruled on in Paris climate talks later this year.

Merkel, as host of the summit, said the leading industrialised countries were committed to raising $100bn (£65bn) in annual climate financing by 2020 from public and private sources.

Read more: http://www.theguardian.com/world/2015/jun/08/g7-leaders-agree-phase-out-fossil-fuel-use-end-of-century