New Laws of Commercial Registration and Trade Names take effect on Thursday    Civil Defense warns of heavy rains across Saudi Arabia until Monday    Saudi Exchange suspends trading of seven companies over financial disclosure delays    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    EU preparing 'further countermeasures' to protect its interest, von der Leyen says    Tesla sales plunge after backlash against Elon Musk    Musk's X is suing India, as Tesla and Starlink plan entry    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Rich nations in stalemate over coal subsidy phase-out
Published in The Saudi Gazette on 16 - 06 - 2015

Talks on phasing out a form of coal subsidies ended in stalemate as Japan, the biggest user of the aid, led calls for more time in defiance of this week's G7 pledge on fossil fuel subsidies, sources said.

The Paris-based Organization for Economic Cooperation and Development has been trying for a year to get an agreement from its 34 member nations on phasing out export credits for coal, the most polluting of the fossil fuels.

Sources close to talks in Paris on Wednesday and Thursday, speaking on condition of anonymity, said nations would review the situation over the summer ahead of further talks in September.

An OECD spokesman, who asked not to be identified, confirmed the OECD's export credit committee planned to meet in September to debate further how "export credits can contribute to our common goal to address climate change".

The pressure for a deal is strong, but so is opposition, especially from Japan, the biggest user of the credits that help companies such as Toshiba Corp to sell coal plant and mining technology abroad.

France, which late this year hosts UN climate talks, is pushing for strict criteria, while G7 leaders of the world's major industrial democracies on Monday backed a target to limit the average rise in global temperatures to 2 degrees Celsius (3.6 degrees Fahrenheit).

The G7 leaders pledged to eliminate "inefficient fossil fuel subsidies" and to "continued progress in the OECD discussions on how export credits can contribute to our common goal to address climate change". But that can be interpreted to allow export credits to continue in some form.

Industry argues they ensure only the most efficient coal-fired generation is used and that can cut emissions in nations that might otherwise use more polluting technology. Environment campaigners dispute that.

"The main beneficiaries are OECD dirty industry, not energy poor nations or the planet," Sebastien Godinot, an economist at WWF, said. As other subsidies have disappeared, OECD export credits have increased in significance, according to research by environmental campaigners, including WWF.

Their analysis of the numbers available found Japan provided around $20 billion in public money to export of coal technology between 2007 to 2014. In the European Union, Germany is the largest user.

A German Economy Ministry spokeswoman said Germany supported the OECD's efforts to agree unified standards for export credits in line with the 2 degree Celsius limit.

"Export credit guarantees should only be available for new, highly-efficient coal powered stations and only then if the power stations are embedded in and coherent with the importing country's climate protection strategy," she said. — Reuters


Clic here to read the story from its source.