(VOVworld) - The seven industrial powers (G7) have agreed on their targets for reducing carbon dioxide and phasing out the use of fossil fuels, a significant advance on the threshold of the COP21 on climate change in Paris later this year.

G7 leaders and invitees line up for the traditional group photo at the end of the summit. (photo: theguardian)

  In a communiqué issued after the summit in Germany, the G7 leaders agreed to back the recommendations to reduce global emissions to a range between 40% to 70% by 2050, using 2010 as the baseline. They also agreed to limit the rise in average global temperatures to two degrees Celsius above pre-industrial levels and mobilize an annual 100 billion USD until 2020 to assist environmental protection initiatives. Four nations expressed hopes to push forward efforts in limiting CO2 emissions from economics activities by changing their energy sources between now and 2050.