G7 offers US$15bil to cut coal use

THE Group of Seven (G7) industrialised nations has made a new US$15bil (RM65bil) offer to Vietnam to agree during a summit next week on funding to speed up its transition away from coal, three people familiar with the talks said.

Vietnam, which is among the world’s top 20 coal users, was initially slated to sign up for the so-called just energy transition partnership with G7 nations at a global COP27 climate summit in November, but high-level talks broke off before the meeting.