The embattled coal industry is facing a fresh onslaught as rich nations consider a bold plan to scale back the billions of dollars of support they pour into coal power plants worldwide.
Documents seen by the Financial Times show the US has struck a deal with Japan that would rein in export credit agency financing for coal, a leading source of the greenhouse gas emissions responsible for climate change.
The proposal will be debated at a meeting in Paris next week of the Organisation for Economic Co-operation and Development (OECD), which represents 34 of world’s richest countries.
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