LONDON: Group of Seven leaders are discussing ambitious plans to shift the balance of car buying away from gasoline to greener vehicles by the end of the decade, as part of a package of measures to combat climate change.
With a day to go before the summit begins, the plans are still in draft form and it’s not clear yet that leaders – crucially including US President Joe Biden - will endorse the proposed wording on moving away from polluting cars. Sales of new electric cars will reach 34% of the global total by 2030 and 68% by 2040, assuming no further policy incentives from governments, according to BNEF forecasts.Japan also issued a green strategy plan in December to make all new cars hybrid or electric by the mid-2030s, despite Toyota Motor Corp. president Akio Toyoda warning days before that governments announcing combustion-car bans were overlooking risks to jobs.
According to proposed wording in the draft summit communique, leaders would commit to decarbonise their transport sectors throughout the 2020s by accelerating the spread of electric vehicles, and the development of zero carbon trains, buses, shipping and aviation.> Confirming the commitment of wealthier countries to spend $100 billion to help the developing world cut carbon emissions