U S Strikes Deal To Block Coal Plants Worldwide
The United States cut a deal yesterday with wealthy countries to curb public financing for coal plants, an agreement the White House called a “major step forward” ahead of U.N. climate change negotiations in Paris this month. The deal agreed to by members of the Organisation for Economic Co-operation and Development (OECD) marks the first time a large number of nations have set common standards for coal subsidies. The White House estimated yesterday that about 80 percent of coal technology in the current export credit agency pipeline would become ineligible for financing because of the agreement....