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Germany Pushes for G-7 Reversal on Fossil Fuels in Climate Blow
Germany is pushing for Group of Seven nations to walk back a commitment that would halt the financing of overseas fossil fuel projects by the end of the year, according to people familiar with the matter. That would be a major reversal on tackling climate change as Russia’s war in Ukraine upends access to energy supplies. A draft text shared with Bloomberg would see the G-7 “acknowledge that publicly supported investment in the gas sector is necessary as a temporary response to the current energy crisis.” The caveat in the proposal is that such funding is done “in a manner consistent with our climate ... (full story)