20 Countries Sign On To Stop Funding Fossil Fuel During COP26 Summit

The COP26 Summit continues in Scotland. In a deal announced today, twenty countries have agreed to ending financing for fossil fuel projects. Several countries have already agreed to ending international financing for coal but this new deal is the first involving oil and gas projects. The United States, United Kingdom, Canada, Italy, Switzerland and New Zealand as well as others are part of the agreement which commits to ‘end new direct public support for the international unabated fossil fuel energy sector by the end of 2022, except in limited and clearly defined circumstances that are consistent with a 1.5%c warming limit and the goals of the Paris Agreement.’