G7 commits to stop funding fossil fuel projects

The energy and environment ministers from all G7 countries agreed at a meeting in Berlin to end taxpayer funding for oil, gas and coal projects overseas from the end of this year.

According to the analysts, this agreement could shift about $33bn (£26bn) a year from fossil fuels to clean energy sources.

The G7 member countries include Japan, the UK, the US, Canada, Italy, France, and Germany.

The G7 committed last year to end overseas coal financing and some members agreed to end all overseas fossil fuel financing, but this is the first time all seven countries have reached a comprehensive agreement covering all fossil fuels.