The Participants of the OECD Arrangement on Officially Supported Export Credits have decided to end support for unflagged coal-fired power plants to control CO2.

In particular, the ban will be valid to officially endorse export credits and tied aid for:

  • New coal-fired power plants without operating carbon capture, utilization, and storage (CCUS) facilities; and
  • Existing coal-fired power plants, unless the intent of the equipment supplied is pollution or CO2 reduction and such equipment does not expand 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 proper internal decision-making processes, which are expected by the end of October 2021.

The Accomplices to the Agreement are Australia, Canada, the European Union, Japan, Korea, New Zealand, Norway, Switzerland, Turkey, the United Kingdom, and the United States.

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

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