Nations Conflict on Subsidy Rules for Exporting Coal-Fired Power Plants

"Australia and South Korea are pushing back hard against U.S. efforts to sway wealthy nations away from financing coal projects overseas, according to documents provided to ClimateWire.

A U.S.-brokered agreement with Japan, first reported in ClimateWire, has been making the rounds at the Organisation for Economic Co-operation and Development (OECD) as member countries prepare for discussions next week on whether to restrict financing for coal through export credit agencies (ClimateWire, Oct. 27).

But new counteroffers from coal-heavy South Korea and Australia that put only the loosest curbs on certain types of coal-fired power plants have thrown a wrench into the negotiations -- and, by extension, U.S. hopes of sending a message ahead of landmark U.N. climate talks in Paris that the rich world is committed to a low-carbon future."

Lisa Friedman reports for ClimateWire November 10, 2015.