Climate Politics
Rich Nations Running Out of Time to Curb Oil and Gas Funding
- Months of talks by OECD members have failed to reach agreement
- Proposals seek to restrict the role of export credit agencies
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A group of developed nations will make a new push to resolve differences amid fading prospects for a deal to restrict funding of foreign oil and gas projects by their export credit agencies.
Organisation for Economic Cooperation and Development members have held talks on an initiative put forward by European nations last November without reaching any consensus. They face a narrowing window to strike a deal before the US presidential election and COP29 UN climate summit.