Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Agreement reached at OECD to end export credit support for unabated coal-fired power plants

10/22/2021 | 06:34am EST

22/10/2021 - In support of efforts to address climate change and in the context of the approaching COP26, the Participants to the OECD Arrangement on Officially Supported Export Credits have agreed to end support for unabated coal-fired power plants.

Specifically, the ban will apply to officially supported export credits and tied aid for:

  • new coal‑fired power plants without operational carbon capture, utilisation and storage (CCUS) facilities; and
  • existing coal-­fired power plants, unless the purpose of the equipment supplied is pollution or CO2 abatement and such equipment does not extend the useful lifetime or capacity of the plant, or unless it is for retrofitting to install CCUS.

The ban will come into effect once Participants complete their formal internal decision making processes, which are expected by the end of October 2021. The Participants to the Arrangement are Australia, Canada, the European Union, Japan, Korea, New Zealand, Norway, Switzerland, Turkey, the United Kingdom, and the United States.


Media enquiries should be directed to Lawrence Speer (+33 1 45 24 79 70) in the OECD Media Office (+33 1 45 24 97 00).

Working with over 100 countries, the OECD is a global policy forum that promotes policies to preserve individual liberty and improve the economic and social well-being of people around the world.

Disclaimer

OECD - Organisation for Economic Co-operation and Development published this content on 22 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2021 10:33:06 UTC.


ę Publicnow 2021
Latest news "Companies"
01:08pMichael J. Fox Gets Serious
PR
01:08pNTS Celebrates 60 Years as Global Leader in Testing, Certification, and Inspection
BU
01:08pBank of Nova Scotia Says FX Rates Hurt Revenue -- Currency Comment
DJ
01:07pCanada oil province Alberta says higher energy prices will cut fiscal deficit
RE
01:07pUSMNT Goalie Zack Steffen & USL Star Alex Crognale launch Parichute to spark local and global charitable impact
GL
01:06pDavid solomon says high taxes threaten new york’s status as global business destination- ft
RE
01:06pHow Schneider Electric and Intelli-Systems are winning with sustainable edge IT
AQ
01:05pLarger deficit seen in global sugar supply as India boosts ethanol
RE
01:05pActivision on Track for Longest Losing Streak Since January 2014 -- Data Talk
DJ
01:04pINFLATION PART OF FED RATE HIKE TEST LIKELY MET IN COMING MEETINGS : Powell
RE
Latest news "Companies"