Fossil Fuels: Development Aid

Cop26 written question – answered on 11 February 2022.

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Photo of Derek Thomas Derek Thomas Conservative, St Ives

To ask the President of COP26, what discussions he has had with international partners on following the UK in ending support for fossil fuel projects overseas.

Photo of Alok Sharma Alok Sharma Minister without Portfolio , COP26 President (Cabinet Office)

COP26 set the gold standard on aligning international public finance with the goals of the Paris Agreement. 34 countries and 5 finance institutions have committed to end international public finance for fossil fuel energy projects by the end of 2022. Collectively, this could move $24bn of public finance out of fossil fuels and into the clean energy transition. This is the first time a COP Presidency has prioritised this issue to drive forward progress. The UK is now actively working with fellow signatories to support the delivery of these commitments, as well as expanding the signatory base and continuing to push global ambition on this agenda throughout 2022.

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