U.S. and Japan to announce deal curbing ECA coal financing

(ClimateWire, Washington, 27 October 2015) The Obama administration has crafted a deal with Japan to restrict financing for overseas coal projects, several sources told ClimateWire. The agreement is aimed at influencing other members of the Organisation for Economic Co-operation and Development (OECD), which will meet next month in Paris for a contentious decision over setting common rules to phase out coal financing for export credit agencies. Yet other OECD countries have not yet signed onto the deal, which could curtail 80 percent of coal projects in the export credit agency pipeline. Sources say the talks are in a sensitive phase and the administration wants to bring in other countries before making an announcement.