EU tries again for compromise on deal to phase out coal aid via ECAs

(Reuters, Brussels, 27 July 2015) EU bosses are pushing to resolve a clash between industry and environmental policy with a new strategy to phase out funding to export coal technology to developing nations, ahead of a meeting of leading economic powers on the issue. The European Commission, the EU executive, urges tougher rules on when subsidies, known as coal export credits, can be used in a paper seen by Reuters, ahead of interim talks this week. Political pressure is growing to reach agreement on restricting the coal subsidies before United Nations climate change talks in Paris at the end of the year. But opposition is also strong. Negotiations at the Paris-based OECD in June ended in statemate as Japan, the biggest user of export credits that help companies such as Toshiba Corp to sell coal plant and mining technology abroad, led resistance.

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