Coal cash cut.

Some of the world's major economies (OECD) want to finalize a plan ahead of this year's UN climate summit to halt new private sector funding for coal projects, Reuters reported.

It would be the first move by a multilateral institution to curb financing for coal. Key stat: Commercial banks' lending and underwriting to the coal industry was $470 billion between 2021 and 2023.

Anca heashot

Anca Gurzu

Chief Europe Correspondent