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British Prime Minister Boris Johnson talks next to President Joe Biden and French President Emmanuel Macron at the G7 summit in Carbis Bay, Cornwall, England, on Saturday. Photo: Leon Neal/Getty Images

G7 leaders are set to announce Sunday a range of measures to tackle climate change, including "ending almost all direct government support" for fossil fuels and phasing out gasoline and diesel cars.

Driving the news: The plan was outlined in a British government announcement Saturday, which states that the leaders will also agree to halting "all unabated coal as soon as possible."

  • The White House announced in a separate statement Saturday that G7 leaders had "agreed to a set of concrete actions to accelerate the global transition away from coal generation as part of our efforts to combat the climate crisis."
  • The U.S., Canada, Germany and the U.K. had agreed to provide up to $2 billion in financing to help developing countries transition away from coal, the White House statement added.

Our thought bubble, via Axios' Andrew Freedman: Steps to accelerate the deployment of electric vehicles and ending subsidies for coal-fired power plants are no surprise, but there is pressure on leaders to go further toward these goals than they have in the past.

  • The developing world will also be eyeing any new financial pledges to help countries transition toward clean energy while coping with the effects of climate change.
  • Developed countries had promised $100 billion per year for these purposes starting in 2020, but funding remains well below that target.

Go deeper

Ben Geman, author of Generate
Aug 3, 2021 - Politics & Policy

Democrats press Treasury on climate plans

Illustration: Sarah Grillo/Axios

Three Democratic senators including Elizabeth Warren hope to shake loose information about Treasury Department plans to harden the financial system against climate risks and mobilize climate finance.

Why it matters: Treasury's response to their new letter could provide details about what's planned and underway at the department that's slated to play a key role in the White House climate agenda.

Ben Geman, author of Generate
Aug 3, 2021 - Energy & Environment

The glass is barely half full on clean energy capital

Expand chart
Data: BloombergNEF; Chart: Danielle Alberti/Axios

New data shows that combined global investment in renewable energy companies and projects just had its best first half of any year.

Driving the news: The first six months of 2021 saw the investment of $174 billion amid record amounts of public market financing, venture capital and private equity, per the research firm BloombergNEF.

Updated 39 mins ago - Sports

Olympics dashboard

Team USA's Ryan Crouser competing on Thursday in the men's Olympic shot put final in Tokyo, which he won. Photo: Andrej Isakovic/AFP via Getty Images

🥇: Ryan Crouser breaks his own Olympic shot put record to win gold for U.S.

🏐: U.S. Olympic beach volleyball duo one step away from realizing gold medal dream

🤼🏿‍♀️ "Making history": Mensah-Stock first Black woman to win Olympic wrestling gold

🛹: 2 teens and girl, 12, sweep board at women's park skateboarding

Go deeper: Full Axios coverage