Biden, Jokowi unveil $20bn deal to end coal and speed up net zero push in Indonesia
US President Joe Biden and Indonesian President Joko Widodo announced a climate finance deal providing $20 billion to help Indonesia pivot away from coal power.
G7
G7 offers Vietnam and Indonesia $15bn to quit coal ahead of COP27
The G7 and its partners have made multi-billion dollar offers to wean Vietnam, Indonesia and India away from coal — but it has yet to convince these emerging economies to quit the dirtiest fossil fuel, reported POLTICO.
G-7 edges closer to ditching pledge to end fossil-fuel financing
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 favourably by most members, according to people familiar with the matter.
Oil swings as traders weigh up G-7 crude ban, Saudi price cuts
Oil fluctuated as investors weighed a pledge by the Group of Seven to ban imports of Russian crude against a cut in official prices by Saudi Arabia and the impact of China’s energy-sapping lockdowns.
Japan says G7 agrees on need to cut reliance on Russia for energy
Energy ministers from the Group of Seven developed nations on Thursday agreed to boost efforts to cut their dependency on energy imports from Russia, Japanese industry minister Koichi Hagiuda said, reported Nikkei Asia.