Most of the Organization for Economic Co-operation and Development (OECD) countries have agreed to halt export credit support for unabated coal-fired power plants, as a support of efforts to address climate change and in the context of the approaching COP26, the OECD said on Friday.
According to the organization, the participating countries are Australia, Canada, countries of the European Union, Japan, Korea, New Zealand, Norway, Switzerland, Turkey, the UK and the US.
The ban would cover new coal-fired power plants without operational carbon capture, utilization and storage (CCUS) facilities.
It would also cover 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 OECD said that the ban is expected to come into effect by the end of October 2021.
By Firdevs Yuksel
Anadolu Agency
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