Countries Agree To End Export Financing For Coal

By Jennifer Doherty (October 22, 2021, 7:56 PM EDT) -- Several of the world's richest countries have agreed to end export credits for the most polluting coal-fired power plants in an effort to combat climate change, the Organization for Economic Cooperation and Development announced Friday.

The parties to the agreement, which include the U.S., Canada, the European Union, Australia, Japan, Korea, New Zealand, Norway, Switzerland, Turkey and the United Kingdom, have committed to banning export credits for existing coal-fired power plants, with exceptions for credits that go toward pollution-reducing equipment known as carbon capture, utilization and storage technology, or CCUS, according to the OECD statement.

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