The G20 nations recently agreed to stop supporting coal-fired power plant projects abroad.
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A new commitment to fight against global warming at COP26. Nineteen countries announced, Thursday, November 4, to put an end by the end of 2022 to the financing abroad of fossil energy projects without carbon capture techniques, among which large investors like the United States and Canada.
“Investing in fossil fuel projects without carbon capture systems carries increasing social and economic risks”, sets out a joint declaration by the signatories disseminated during the international climate conference in Glasgow.
The G20 nations recently agreed to stop supporting coal-fired power plant projects abroad. The plan announced Thursday, at the initiative of London, includes gas and oil for the first time, and promises to redirect this money towards renewable energies.
“We have to put public funding on the right side of history. Ending international funding for all these fossil fuel projects is essential if we are to be able to maintain the 1.5 ° C target.” warming enshrined in the Paris Agreement, commented UK Secretary of State for Business Greg Hands.