BARCELONA — Pressure on wealthy governments to stop financing polluting coal projects in developing nations is getting results, with more countries expected to announce this week and in coming months that they will no longer provide money for coal.
But the battle is far from won — and is now shifting to include oil and gas finance, climate change campaigners say.
Britain has led the way among major donors, saying it would provide no new government financing for fossil fuel projects overseas from this month, with “very limited” exceptions.
The United States is also preparing to announce restrictions, possibly at the Leaders Summit on Climate organized by US President Joseph R. Biden, Jr., on Thursday and Friday.
South Korea, Japan, and Canada could soon join them, and a handful of European nations, in pledging to phase out overseas aid for coal, climate finance experts said ahead of Mr. Biden’s virtual … Read the rest