Twenty countries, including US, UK and Canada, commit to a halt in public financing for fossil fuel projects abroad by the end of next year COP26
The COP26 deal aligns with policies in countries including Britain, which ended direct government support for new fossil fuel projects overseas this year.
"We will end new direct public support for the international unabated fossil fuel energy sector by the end of 2022," they said in a declaration on Thursday. The deal allowed for exemptions in unspecified "limited" circumstances, which it said must be consistent with the Paris Agreement's target to cap global warming at 1.5C.
The 20 countries that signed the pledge include Denmark, Italy, Finland, Costa Rica, Ethiopia, Gambia, New Zealand and the Marshall Islands, plus five development institutions including the European Investment Bank and the East African Development Bank.Campaigners called the commitment a "historic" step in turning off the funding taps for fossil fuel projects.
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