A deal to end state funding of international dirty coal, oil and gas projects is expected to be signed tomorrow morning in Glasgow by a host of developed and developing countries.
The UK-brokered deal will see a commitment to end funding of ‘unabated’ coal projects – those without clean technologies to reduce carbon – oil and gas by 2022, and instead shift that funding towards green energy.
A source told City A.M. that around 24 countries were signed up this evening, including the United States. German officials were also said to be in ‘active discussions’.
It is believed that the France are amongst those so far absent from the signatories.
Earlier this year the G7 signed a deal to end the international funding of unabated coal projects internationally, including through aid projects.
This would be a significant furthering of that commitment, with oil and gas included for the first time.