News of the planned shutdown was hailed at the summit as ‘big news’ that could increase pressure on China, the world’s biggest coal-burner.
Coal is the most polluting fossil fuel – about 40 percent of fossil fuel emissions. The United States has the third largest coal park in the world. China has more coal-fired power plants: China has more than half of the world’s coal-fired power plants. Almost three-quarters of the new coal projects being built are in China.
A new diplomatic initiative was also announced at Saturday’s climate summit: accelerating the transition to coal, which will be led by France. The initiative will focus on ending private financing of coal, supporting communities previously dependent on the fuel, and accelerating clean energy development in those regions.
US Vice President Kamala Harris announced on Saturday that her country would contribute $3 billion to the United Nations Green Climate Fund (GCF).
The Green Climate Fund (GCF) is the UN’s largest climate fund. Funding should help developing countries adapt to climate change. Half of the budget goes to small island states and less developed countries, including Africa, which are already suffering the most from climate change.
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