G-7 Edges Closer to Ditching Pledge to End Fossil-Fuel Financing
- Russia’s war has prompted European race for gas alternatives
- Move would represent a setback for global climate action
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The Group of Seven is moving toward reversing a commitment to halt the financing of overseas fossil-fuel projects by year’s end, a proposal now viewed favorably by most members, according to people familiar with the matter.
G-7 leaders meeting in the Bavarian Alps are converging on a reference to the increased role of gas projects, a consequence of Russia’s invasion of Ukraine straining their energy supply.