(Reuters) – A plan discussed by wealthy countries to curb tens of billions of dollars in public support for oil and gas projects has failed without agreement, Bloomberg News reported on Monday.
The European Union, Britain, the United States and other countries had tried to reach an agreement to limit export credit agencies’ financing of global fossil fuel projects under the umbrella of the Organization for Economic Co-operation and Development (OECD). , the report said.
“Negotiations are still ongoing,” an OECD spokesperson told Reuters in response to the report.
While improving transparency in export financing remains a goal, the chances of a broader deal to curb support for hydrocarbon projects are now slim, Bloomberg said, citing unnamed senior U.S. officials.
Negotiators plan to exchange messages until early January, the report said, citing one of the officials.
