Setback for Climate Policy: OECD's Ban on Foreign Fossil Fuel Financing Falls Through

Setback for Climate Policy: OECD's Ban on Foreign Fossil Fuel Financing Falls Through
6 months ago

In a significant disappointment for global climate initiatives, the Organisation for Economic Co-operation and Development (OECD) has seen its ambitious proposal to ban international financing for fossil fuel projects collapse. This decision, made during recent negotiations among member states, has raised concerns about the commitment of governments to prioritize sustainable energy investments over fossil fuel developments.

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President Biden Considers New Restrictions on Fossil Fuel Financing

President Biden Considers New Restrictions on Fossil Fuel Financing
7 months ago

In a significant move towards tackling climate change, President Joe Biden is reportedly contemplating the implementation of restrictions on financing activities related to fossil fuels. This strategy aims to curb investment in coal, oil, and gas projects, potentially extending beyond his administration and outlasting the Trump era. The proposed changes could substantially impact how financial institutions support fossil fuel ventures, redefining investment criteria across the board.

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