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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

How to finance climate goals will be key hurdle at G7 and U.N. talks

Illustration: Shoshana Gordon/Axios

Climate finance has emerged as the biggest stumbling block to progress at the high-stakes United Nations climate talks in Scotland in November. How the Group of 7 wealthy nations treats the issue Friday and Saturday may determine the outcome.

Why it matters: Providing the funding that was promised to developing countries might open up other areas of important conversation in Glasgow, such as setting more ambitious emissions reduction targets for 2030.

John Frank, author of Denver
Jun 11, 2021 - Axios Denver

Most Colorado coal power plants less cost effective than wind, solar

Expand chart
Data: Energy Innovation; Map: Michelle McGhee/Axios

All but one of Colorado's seven coal power plants are less cost effective than wind and solar power, according to an analysis from environmental firm Energy Innovation.

Why it matters: If other power sources are cheaper, it means utility customers in Colorado are overpaying.

  • The emissions from coal power plants also contribute to climate change, and the state is well behind its goals for reductions.
Jun 12, 2021 - Politics & Policy

Biden to urge G7 to take unified approach to countering China

Photo: Hollie Adams/Bloomberg via Getty Images

President Biden on Saturday is expected to urge fellow G7 leaders to adopt a unified approach to countering China's rising global influence, AP reports.

Driving the news: The G7 leaders are set to unveil a multi-billion-dollar global infrastructure plan aimed at rivaling Beijing's efforts in the developing world.