G-7 ties itself up in knots on climate and energy

Citing ‘exceptional circumstances’, the grouping of advanced economies has opened the door to new fossil fuel investments, particularly natural gas.

Tanks containing natural gas at an Erdgas Ostschweiz storage facility in Schlieren, Switzerland. PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

The Group of Seven rich nations has opened the door to public financing of new gas investments, setting back global action to fight climate change.

G-7 leaders cited "exceptional circumstances" in a communique at the end of last week's summit in Germany in what was a clear reference to the pressing need now to fill the energy void left by Russia.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.