Plans to phase out a form of coal subsidy among OECD nations has reportedly ended in ‘stalemate’, according to sources.
According to the Reuters, a source close to the talks said that discussions on phasing out a form of coal subsidies have ended in stalemate because Japan called for more time. Japan is the biggest user of the subsidy, which helps companies to sell coal plant and mining technology abroad.
The OECD has been trying to get its 34 member nations to agree on phasing out the subsidy for the past year. Cutting out the subsidy for coal, the most polluting fossil fuel, has received some strong support, particularly from France, but the opposition means a deal has yet to be reached.
The news comes as a study revealed Japan is one of the five G7 countries that have increased their coal use over the last five years. Despite agreeing to tackle climate change in 2009, Japan, along with the UK, France, Italy and Germany, has not cut its reliance on the polluting fossil fuel, the study estimated that coal plants in the G7 would cost the world $450 billion (£294bn) a year by the end of the century.
Leaders of the G7, which also includes the US and Canada, recognised the need to fully decarbonise their economies by 2100. Following discussions, the group released a statement saying “urgent and concrete” action is needed to address climate change, including “deep cuts” in global greenhouse gas emissions.
It is hoped that the progress made at the G7 talks will continue at UN negotiations in Paris later this year. The UN summit aims to create a universal climate treaty that will limit global warming, however, if OECD countries fail to reach an agreement it could be a blow for the discussions.
Photo: michelle carl via Flickr
We’re live on Crowdcube. To own a share in our tomorrow, click here.
Like our Facebook Page
How Can Technology Help You To Lead A Sustainable Lifestyle?
4 Factors That Can Save The Environment Along With Going Paperless
How Peer to Peer Works On Eco-Friendly Trading Platforms
5 Questions Eco-Friendly Entrepreneurs Need To Ask Unhappy Employees
Is Trade Good or Bad for the Environment (Examples and Laws)
7 Best Investments to Make for an Eco-Friendly Business
4 Tips For Choosing An Eco-Friendly Home Backup Power Source
10 Things To Consider When Choosing A Home Solar Company
5 Sustainable Ways Of Disposing Building And Demolition Waste
Why 2022 Is Your Last Chance to Get a 26% Return on Your Solar Kit
Low Emission and Clean Air Zones: What You Need To Know
A Guide to Eco-Friendly Landscaping
12 Essential Things for Buying Your First Home
Zero Waste Living and Its Importance
Harnessing Sustainability with User-Centric Technology Innovation
How the U.S. Government is Promoting Green Energy in the Country
Tips for Optimal Waste Management in Your Home
Is It Possible to Work in Tech Without Harming the Planet?
Hypermiling: The 3 Ways To Drive Your Car For Maximum Fuel Efficiency
Making Your Dream of Having an Eco-Friendly Garden Come True
- Features11 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy12 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features11 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Features10 months ago
5 Compelling Reasons to Hire an Eco-Friendly Contractor