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
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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.

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