| 27 February 2024, Tuesday |

COP28: India, China to oppose proposal by France, US to curb coal-fired plants

During the UN climate conference later this month, France intends to seek a halt to private finance for coal-based power facilities, supported by the US, three persons involved with the discussions told Reuters in India and Europe.

The proposal, which was presented to India earlier this month, is expected to widen rifts at the COP28 conference in Dubai, which takes place from November 30 to December 12. China and India are opposed to any attempt to impede the development of coal-fired power plants in order to meet their countries’ energy demands.

France’s minister of state for development Chrysoula Zacharopoulou told the Indian government about the plan, called the “New Coal Exclusion Policy,” for private financial institutions and insurance companies, two Indian officials said.

The plan to stop private financing for coal-fired power plants has not been previously reported.

A spokesman for Zacharopoulou did not directly comment on emailed queries from Reuters but said the question of financial investments in coal had been discussed at several different multilateral forums over the past few years.

India’s environment, power and renewable energy, coal, external affairs and information ministries, the OECD and the French embassy in New Delhi did not respond to Reuters’ requests for comment.

  • alarabiya