CARBIS BAY, England: G7 leaders will commit on Sunday to increase their climate finance contributions to meet an overdue spending pledge of $100 billion a year to help poorer countries cut carbon emissions and cope with global warming. At the G7 summit in southwestern England, there was a clear push by the leaders to try to counter China's increasing influence in the world, particularly in developing nations. "As democratic nations we have a responsibility to help developing countries reap the benefits of clean growth through a fair and transparent system. G7 leaders are also expected to set out action to cut carbon emissions, including measures such as ending almost all direct government support for the fossil fuel energy sector overseas and phasing out petrol and diesel cars. "While commitments to provide more support to developing nations are absolutely vital, until they cough up the cash, we're taking nothing for granted," he said in a statement.

Source: Mint June 13, 2021 10:52 UTC