France, US to propose ban on private finance to coal-fired plants at Cop28

The US, European Union and Canada, among others, have been seeking a plan to expedite the phase-out of coal, which they have cited as the 'number one threat' to climate goals. Picture: Sam Boal / RollingNews.ie

France, backed by the United States, plans to seek a halt to private financing for coal-based power plants during the UN climate conference later this month, three sources familiar with the deliberations told Reuters.

The plan, which was communicated to India earlier this month, will deepen divisions at the Cop28 summit in Dubai running from November 30 to December 12, with India and China opposed to any attempt to block construction of coal-fired power stations for their energy-hungry economies.