EU, OECD to Discuss Ban on Export Credits for Coal-Fired Electricity Projects
Organization for Economic Cooperation and Development countries were to meet Sept. 15-16 to review the European Union's proposal for a ban on export credits to “unabated international coal-fired electricity generation projects,” the European Commission said. The EU submitted the proposal…
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alongside Canada, South Korea, Norway, Switzerland, the United Kingdom and the U.S. "Export credits constitute an important element in the promotion of international trade," the EC news release said. The commission sees banning such export credits as crucial to leveling the playing field in combating climate change with regard to international trade partners and as an extension of its recent call for a global phase-out of “environmentally harmful fossil-fuel subsidies.” The commission independently pledged “to propose to end” export credits for its coal-fired power industry in its 2021 Trade Policy Review.