France & US plan ban on private finance to coal-fired plants at COP28

• France & US plan ban on private finance to coal-fired plants at COP28.
• India was informed of the plan earlier this month.
• The proposal suggests the OECD set coal-exit standards for private finance firms.

France, with U.S. support, plans to propose a halt to private financing for coal-based power plants at the upcoming U.N. climate conference (COP28) in Dubai, according to sources.

India was informed of the plan, called the “New Coal Exclusion Policy,” earlier this month. The policy aims to cease private funding for coal-fired power plants and is a top priority for French President Emmanuel Macron during COP28.

The proposal suggests the OECD set coal-exit standards for private finance firms. The U.S., EU, and Canada are pushing for accelerated coal phase-out, citing it as a major threat to climate goals.

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