US backs new plan to cripple coal industry at UN climate conference

The Biden administration is poised to back a plan that would crush the coal industry at the upcoming United Nations (UN) climate summit, Reuters reported on Tuesday.

The US will back a French plan to get countries around the world to ban private financing of coal-fired power plants at the upcoming UN conference, known as COP28. seconds to Reuters. The plan is likely to create a rift between countries like the United States and France and those like China and India, which rely on coal to power their economies with cheap and reliable electricity.

The proposed plan would allow the Organization for Economic Co-operation and Development (OECD) to set coal standards for privately financed companies that would allow regulators, rating agencies and non-governmental organizations to track coal financing, according to Reuters.

Senator Barrasso: At Climate Conference, Biden ‘Swore Loyalty to United Nations Flag’, Not US
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— Daily Caller (@DailyCaller) November 7, 2021

According to Reuters, the United States, the European Union (EU) and Canada had been working together on a strategy to phase out coal, which they see as the main threat to meeting international climate goals. About 73 percent of the electricity consumed in India is generated by coal, according to Reuters, and China allowed an average of two new coal plants every week by 2022. seconds to an analysis carried out by the Center for Research in Energy and Clean Air.

“France doesn’t have coal, so their position to ban it is easy. The U.S., on the other hand, has by far the largest coal reserves in the world,” said Dan Kish, senior researcher at the Energy Research Institute, at the Daily Caller News Foundation. “Coal is the world’s main source of electricity. All this does is make the rest of the world that is trying to get affordable electricity for its people align with China and against the US, Uncle Sam is make him look like an idiot again under Joe Biden.”

According to Reuters, India is likely to reject the proposal or any other proposal to set a deadline for phasing out fossil fuels. According to reports, Indian delegates may push representatives of developed countries such as the US and France to become carbon negative, rather than merely carbon neutral, by 2050 to keep the targets within reach.

Beyond the reported plan to strangle private financing of coal plants, delegates are expected to discuss the shape and stipulations of a so-called “loss and damage” fund, a de facto international fund. weather repairs program, at COP28. The presidential special envoy for climate, John Kerry, recently suggested that the US will pay “millions” at the bottom, a number that many activists and representatives of the poorest countries consider insufficient. China is unlikely to have any significant obligations to the fund because it is classified as a developing countrydespite its status as a world champion superior issuer and second largest economy

COP28 is scheduled to begin on November 30 and run until December 12.

Neither the White House nor the State Department immediately responded to requests for comment.

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