G7’s Net-Zero Dreams Stumble on Gas and Coal Dependency

The Group of Seven (G7) nations—comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—have announced an ambitious target: transitioning their power systems to net-zero emissions by 2035. This formidable goal, however, faces significant challenges, primarily due to a persistent reliance on gas and coal. As global attention centres on their progress, the G7 must urgently adopt innovative strategies to navigate these obstacles and maintain their commitment to a sustainable future.

Find out more about Focus 360

The primary challenge in the G7’s decarbonisation journey is their continued dependence on gas-fired power generation. Despite projections indicating a decrease in gas demand by 2030, gas power plants are still under planning or construction in all G7 countries except France. This enduring reliance on gas infrastructure contradicts the anticipated trend and poses a substantial threat to achieving the 2035 decarbonisation target. To counter this, the G7 must pivot towards low-carbon alternatives such as hydrogen and carbon capture technologies, which can facilitate a more sustainable energy transition.

Compounding the issue is the absence of clear national commitments and detailed decarbonisation roadmaps within the G7 countries. While the European Union has made notable progress in power market reform, G7 nations lag behind in enacting binding commitments towards decarbonisation. This lack of clear direction endangers the 2035 target and underscores the necessity for structural changes in power systems. To meet their objectives, the G7 countries must prioritise the deployment of existing solutions and decisively move away from gas-in-power, embracing technologies like advanced grids, renewable energy, and expansive storage solutions.

The International Energy Agency has highlighted the urgency for G7 countries to transition away from gas to keep global warming below 1.5 degrees Celsius. Essential components such as long-duration energy storage and digitalisation must be implemented by 2035 to support the shift towards renewable-based power sectors. While grid modernisation is gaining traction, more robust action is required in energy efficiency and power market restructuring. The G7 must prioritise these essential structural changes to accelerate progress towards their net-zero emissions commitment.

Although coal usage is on the decline in most G7 countries, Japan continues to grapple with significant challenges in transitioning away from coal. This situation underscores the critical decisions needed to achieve a fossil-free power system. The progress made by other European countries in transitioning to renewable energy serves as a stark reminder of the urgency for the G7 to act swiftly and decisively. Addressing Japan’s reliance on coal and the broader over-reliance on gas is pivotal for the G7 to meet their net-zero power goals by 2035.

Achieving net-zero power systems necessitates a comprehensive and multifaceted approach. Clear national decarbonisation roadmaps and a strategic shift away from gas-in-power are crucial. Prioritising technologies such as battery storage, energy efficiency improvements, and renewable energy is essential to ensure a sustainable energy future. The G7’s commitment to combating climate change on a global scale hinges on their ability to deploy these solutions and facilitate the adoption of higher levels of renewable electricity.

As the clock ticks towards 2035, the G7 must act with urgency. Deploying viable solutions, addressing Japan’s coal dependence, and shifting focus from gas to renewables are critical steps in their journey. The transition to net-zero power systems requires a concerted effort to overcome challenges, embrace sustainable alternatives, and ensure a cleaner, greener future for generations to come. The G7’s ability to meet their climate goals and uphold their commitment to a sustainable future will be determined by their collective efforts and strategic initiatives in the coming years.

About Marcia Snyder 309 Articles
Marcia is a finance and investment strategist at FocusNews, specializing in the economics of sustainable development. She provides in-depth analysis on funding opportunities, market trends, and the financial benefits of green building investments.

Be the first to comment

Leave a Reply

Your email address will not be published.


*