G7 ministers agree to cut gas consumption and speed-up renewable energy | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
June 15, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, JUNE 15, 2025
G7 ministers agree to cut gas consumption and speed-up renewable energy

Global Economy

Reuters
16 April, 2023, 09:50 am
Last modified: 16 April, 2023, 10:01 am

Related News

  • G7 leaders meet in Canada hoping to avoid Trump clash
  • Australia PM Albanese to meet with Trump on G7 sidelines in Canada
  • G7 debt is now a pressure point for anxious markets
  • Budgeting for Bangladesh’s energy transition
  • Gas supply to industries increased, to keep improving: Energy adviser

G7 ministers agree to cut gas consumption and speed-up renewable energy

Reuters
16 April, 2023, 09:50 am
Last modified: 16 April, 2023, 10:01 am
Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura, Environment Minister Akihiro Nishimura and other delegates attend the photo session of G7 Ministers' Meeting on Climate, Energy and Environment in Sapporo, Japan April 15, 2023, in this photo released by Kyodo. Mandatory credit Kyodo via REUTERS
Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura, Environment Minister Akihiro Nishimura and other delegates attend the photo session of G7 Ministers' Meeting on Climate, Energy and Environment in Sapporo, Japan April 15, 2023, in this photo released by Kyodo. Mandatory credit Kyodo via REUTERS

The Group of Seven rich nations have agreed to call for reducing gas consumption and increasing electricity from renewable sources while phasing out fossil-fuels faster and building no new coal-fired plants, France's energy transition minister said on Saturday.

G7 environment and energy ministers, however, could not agree on a specific date to exit coal power, France's Agnes Pannier-Runacher told reporters on the first of two days of climate and energy talks in Sapporo in northern Japan.

"The G7 countries have agreed that the first response to the energy crisis must be to reduce energy and gas consumption… For the first time ever, the G7 said that we must accelerate the phasing out of all unabated fossil fuels... Finally, it sent a message about accelerating renewable energy," Pannier-Runacher said.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The G7 decided to endorse a goal to "drastically increase electricity generated by renewable energies," a person with knowledge of the discussions separately told Reuters, asking not to be identified because the information is not public.

China auto show highlights intense electric car competition

Ministers also appeared to be considering numerical targets for increasing solar power capacity to at least 1 terawatt and offshore wind power capacity to 150 gigawatts by 2030, the source said.

Energy-poor Japan was pushing for investments to stay for the gas industry in order to keep the liquefied natural gas in the energy mix as a transition fuel, winning some - but not all - support from the rest of G7.

"The imperatives on gas supply are only short-term. This implicitly means that we cannot invest in the exploration of new gas capacity," Pannier-Runacher said, adding that nuclear energy is backed by G7 as a "solution for the energy transition" with security of supply.

The event has also put focus on the need to help emerging countries reduce emissions, including through financing.

"We, the G7, need to not only reduce our own emissions but also take concrete actions to achieve emission reductions globally," Japan's Economy and Trade Minister Yasutoshi Nishimura said in his opening remarks, singling out countries in the "Global South".

Nishimura said ministers would like to discuss ways to use finance to help reduce carbon in so-called "hard-to-abate" industries, which include chemicals, shipping and steel.

"On climate finance, we must make a fairer deal for the 'Global South'", said Sultan Al Jaber, the United Arab Emirates minister of industry and advanced technology, told a closed session, according to his remarks seen by Reuters.

"Developed countries first need to follow through on the $100 billion pledge they made to developing countries over a decade ago."

'Stronger leadership'

The issue of emissions in emerging markets has long been a focus for developed countries. However, the world's richest countries need to do more to help emerging nations reduce carbon, said Alden Meyer, a senior associate at E3G, a climate change think tank.

"There's a responsibility for the G7 and other developed countries to provide finance and to mobilise private finance as well to help the decarbonisation of the developing countries," Meyer told a briefing ahead of the start of the G7 meeting.

G7 countries must exert "much stronger leadership" in leveraging financial and technology resources to help developing countries reduce emissions, Meyer said.

Top News / World+Biz

G7 / Gas / Renewable Energy

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • BNP gears up for polls — preps ongoing from grassroots to top brass 
    BNP gears up for polls — preps ongoing from grassroots to top brass 
  • Non-performing loans surge by Tk74,570cr in Q1 as hidden rot exposed
    Non-performing loans surge by Tk74,570cr in Q1 as hidden rot exposed
  • Representational image of school children. File photo: Collected
    Govt issues urgent guidelines to educational institutes to curb Covid, dengue spread

MOST VIEWED

  • Vehicles were seen stuck on the Dhaka-Tangail-Jamuna Bridge highway due to a traffic jam stretching 15 kilometres on 14 June 2025. Photo: TBS
    15km traffic jam on Dhaka-Tangail-Jamuna Bridge highway as post-Eid rush continues
  • Tour operator Borsha Islam. Photo: Collected
    ‘Tour Expert’ admin Borsha Islam arrested over Bandarban tourist deaths
  • Infographic: TBS
    Chattogram Port proposes 70%-100% tariff hike
  • Fighter jet. Photo: AFP
    3 F-35 fighter jets downed, two Israeli pilots in custody, claims Iranian media
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Merger of 5 Islamic banks at final stage: BB governor
  • Infograph: TBS
    Why 10 economic zones, including BGMEA's garment park, were cancelled

Related News

  • G7 leaders meet in Canada hoping to avoid Trump clash
  • Australia PM Albanese to meet with Trump on G7 sidelines in Canada
  • G7 debt is now a pressure point for anxious markets
  • Budgeting for Bangladesh’s energy transition
  • Gas supply to industries increased, to keep improving: Energy adviser

Features

Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

4h | Panorama
Photos: Collected

Kurtis that make a great office wear

2d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

4d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

5d | Features

More Videos from TBS

Macron to visit Greenland after Trump's annexation threat

Macron to visit Greenland after Trump's annexation threat

31m | TBS World
Important facilities including Natanz damaged in Israeli attack

Important facilities including Natanz damaged in Israeli attack

46m | Others
Iran's gas production from South Pars halted after Israeli attack

Iran's gas production from South Pars halted after Israeli attack

1h | TBS World
Why the Strait of Hormuz is a key point of discussion in the Iran-Israel conflict

Why the Strait of Hormuz is a key point of discussion in the Iran-Israel conflict

1h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net