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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.
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Tanks containing natural gas at an Erdgas Ostschweiz storage facility in Schlieren, Switzerland.
PHOTO: REUTERS
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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.
