The UK and the EU will ban subsidies for fossil fuel projects.

SGGP 31/10/2023 06:40

Britain and the European Union (EU) are expected to urge the world's richest countries to end subsidies for foreign oil, gas, and coal exploration at the Organization for Economic Cooperation and Development (OECD) meeting to be held in Paris, France, next month.

Sources from the UK Export Finance agency indicate that Canada has committed to supporting the UK's proposal; and is eager to cooperate with like-minded partners at the OECD and other international forums to develop and promote a clean economy worldwide .

The EU also submitted its proposal after member states agreed on a draft proposal last month.

The EU is currently working to coordinate efforts to end subsidies for oil, gas, and coal extraction. The European Commission (EC) stated that total subsidies for fossil fuels within the EU surged during the 2022 energy crisis, reaching nearly $130 billion.

Source: https://www.sggp.org.vn/anh-va-eu-se-cam-tro-cap-du-an-nhien-lieu-hoa-thach-post712101.html