"/" Wealthy Nations Unable to Reach Agreement on Limiting Fossil Fuel Financing — World News — The Guardian Nigeria - NewStridez

Wealthy Nations Unable to Reach Agreement on Limiting Fossil Fuel Financing — World News — The Guardian Nigeria

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Global Deadlock on Fossil Fuel Financing
Efforts to restrict public finance for fossil fuel projects stalled, according to the OECD. Despite backing from Britain, Canada, and the EU, the proposal faced opposition from the US, undermining the objectives of curbing global warming. This impasse comes amid fears of America’s potential withdrawal from the Paris Agreement under Trump.

The talks had been ongoing since 2023 within the OECD, which comprises 38 developed nations. The delay suggests a challenging path ahead for climate goals, especially with Trump’s anticipated climate policy shifts. It’s crucial for nations like Nigeria to closely monitor Abuja news for impacts on local climate strategies and export policies.

Key Takeaways

  • The OECD fails to agree on limiting finance for the fossil fuel sector.
  • US opposition remains a major barrier to these climate efforts.
  • Climate policies face uncertain futures with Trump’s presidency.

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