Canada and at least 24 other countries have committed at the COP26 climate summit to end all public financing for fossil fuel projects abroad by the end of 2022, despite the absence of major Asian countries that contribute to a bulk of such financing. The decision came Nov. 4 at the United Nations climate change conference, where the 25 countries signed a pledge to prioritize support for a “clean energy transition.” The signatories include Canada, the United Kingdom, the United States, Denmark, Italy, Finland, Costa Rica, Ethiopia, and New Zealand. Five development institutions also added their signatures, including the European Investment Bank and the East African Development Bank. “We will end new direct public support for the international unabated fossil fuels energy sector by the end of 2022,” said a joint statement from the signatory countries. At the UN climate summit, at least 23 countries also made new promises to phase out coal power, including …
COP26: Canada Joins 24 Countries Pledging to End Fossil Fuels Financing Abroad by 2022
November 4, 2021
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