The G7 economic summit in southern Germany has elicited the key commitment from world leaders to keep global warming under 2 degrees Celsius.
The ‘2 degree pledge’, delivered in a communiqué as part of the summit, also included the commitment to phase out fossil fuels by the end of the century.
National Journal reports that the declaration would help build momentum toward the United Nations Paris climate talks later this year.
A stronger and more inclusive deal to halt the steady rise in global temperatures is likely to be worked upon during the Paris summit.
“Deep cuts in global greenhouse gas emissions are required with decarbonization of the global economy during the century. Deep cuts in global greenhouse gas emissions are required with decarbonization of the global economy over the course of this century,” the communiqué stated.
US President Barack Obama has taken special interest in initiating measures to fight climate change. US ranks second among the biggest polluters of the world right behind China. In recent times the president has been pushing for reforms in agenda aimed at fighting climate change.
There is growing interest among global nations to find ways to fight climate change. In 2014 global investment in development of clean energy technology recorded a surge of 17 percent to $270 billion.
In a report published earlier this year by Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance and Bloomberg New Energy Finance, it was noted that China saw the biggest renewable energy investment ($83.3 billion) in 2014.
It was followed by the ($38.3 billion) and Japan ($35.7 billion).
Ajith Kumar S
Editor@greentechlead.com