The Group of Seven nations are closing in on agreement this month to phase out fossil-fuel subsidies after the U.K. won backing for the proposal from Italy.
The British, this year’s hosts, have been pushing the G-7 countries to put a date on when they will stop government funding for the energy sources that produce greenhouse gases, including internationally, and to eliminate the use of coal, according to a draft ministerial statement seen by Bloomberg. The British government also wants the members to commit more funds toward easing the transition, particularly in developing countries.
