Friday's G7 pledged to decarbonize their majority of electricity sector "by 2030", and to stop international funding for fossil fuel projects.

In a statement, they stated that "we are committed to achieving majority carbon-free electricity sector before 2035," following a meeting of energy and climate ministers in Berlin. This goal is achievable by countries committing to "support the acceleration in the global phase out of coal" as well as to "rapidly create the technologies and policies necessary to transition to clean energies."

This is the first time the seven industrial power (USA, Japan, Canada France, Italy United Kingdom, Germany, Canada and France) have committed together to this objective.

Ministers also pledged to stop overseas financing of fossil fuel projects that do not use carbon capture technology by the end of 2022. This announcement was possible due to the reversal by Japan, which was the last country to refuse to answer this question. This declaration was signed by twenty countries, which included the G7 states, in November at COP 26 in Glasgow.

Alden Meyer, an expert from the European Think Tank E3G, comments that Japan, which is the largest foreign financier of fossil fuels in the world, has now joined the G7 countries.

G7 countries also reiterated their shared goal to eliminate all subsidies for fossil fuels by 2025. Robert Habeck, German Minister for Economy and Climate, stated that "rewarding climate-damaging behaviour with subsidies [...] was nonsense and must be eliminated". The NGO Oil Change International claims that between 2018 and 2020, these projects were funded by the G20 countries to the tune in excess of 188 billion dollars.