Just two weeks before the Paris climate talks commence, representatives from 34 of the world’s developed and major economies reached a compromise to phase out public financing that supports the construction of new coal power plants around the world. Starting in 2017, the Organization for Economic Cooperation and Development (OECD) announced its members, which includes most of Europe, the U.S. and Japan, will stop providing export credit support for new coal-fired power plants. However, the compromise does allow plants to be built if the most efficient technology is used or in the poorest countries with no viable alternatives. Perhaps it won’t completely halt the construction of new coal plants, but its seen as major step forward to help redirect financing towards renewable energy.
OECD countries agree to restrict financing for overseas coal power plants
More of Today's Solutions
EU greenlights 100 hydrogen projects in major energy transformation plan
BY THE OPTIMIST DAILY EDITORIAL TEAM In a sweeping move to modernize its energy infrastructure and reduce reliance on fossil fuels, the European Union ...
Read MoreThe surprising emotional life of bees: what bumblebees can teach us about con...
BY THE OPTIMIST DAILY EDITORIAL TEAM If you’ve ever watched a bumblebee clumsily bumble from flower to flower, you’ve probably smiled. But it turns ...
Read MoreFrost-fighting apples: Michigan’s native tree may hold the key to climate res...
BY THE OPTIMIST DAILY EDITORIAL TEAM In the forests of Michigan, a small, bitter apple may hold the secret to protecting one of the ...
Read MoreAI tool speeds up stroke care across England, tripling recovery rates
BY THE OPTIMIST DAILY EDITORIAL TEAM In a brilliant advancement for emergency care, every stroke centre in England is now equipped with a life-saving ...
Read More
