Coal

Coal

'Gold standard' plan by major world economies to halt new private sector coal financing

Plans to halt new private sector funding for coal projects ahead of the UN Climate summit are being put in place by major world economies. This move is seen as a significant step towards combating climate change and transitioning towards cleaner energy sources. The decision reflects a global commitment to reducing carbon emissions and promoting sustainability.

The initiative to stop new private sector coal financing is part of a broader effort to accelerate the shift towards renewable energy sources. By phasing out coal investments, countries are signaling their dedication to meeting climate targets and fostering a greener future. This coordinated approach demonstrates the collective determination to address the urgent environmental challenges facing the planet.