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21 Nov 2013: U.K. Government Pledges
To Stop Backing Foreign Coal Power Plants

The United Kingdom has joined the U.S. in pledging to stop using government funds to finance coal-fired power plants in other countries. "The two governments are going to work together to secure the support of other countries ... and the multilateral development banks to adopt similar policies," Britain's energy secretary told journalists gathered in Warsaw at the U.N. climate talks. The U.S. made the same pledge last month in an attempt to slow CO2 emissions from the world's coal-fired power plants. The International Energy Agency reports that coal accounted for 44 percent of global carbon emissions in 2011, and the fossil fuel remains the world's largest source of electricity and heat. While many diplomats applaud the U.K.'s move, U.N. Secretary General Ban Ki-moon and environmental groups are pushing for even stronger action, including more spending on renewable energy. "The rapid development of low-carbon infrastructure needs large injections of public capital," Ki-moon said. The U.S. and U.K. pledges do not address private funding of overseas coal plants, and both countries reserve the right to fund coal power projects in rare circumstances.


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