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The EU and other OECD partners agree on trade measures supporting cleaner energy

The European Commission welcomes the agreement reached late yesterday by members of the Organisation for Economic Cooperation and Development (OECD) – including the EU – to substantially limit the export-related support for coal-fired power plants and to encourage the use of the most advanced technology in energy production.

The outcome of two years of intense discussions represents a first important step forwards in aligning export credits policies with the global push for cleaner energy generation.

EU Commissioner for Trade, Cecilia Malmström said: “The agreement reached today demonstrates that our trade policy can make a meaningful contribution towards production of cleaner energy and climate change mitigation. I am glad that the EU could play an instrumental role in the process that led to this agreement and I now hope that other countries, not yet involved, will follow this lead in the wake of COP21 meeting in Paris.”

According to the new OECD rules, the export credit agencies of the involved OECD countries will only be able to support export of coal-fired plants when it is clear that no less polluting power generation technology is available. If this would be the case, only the most efficient coal plant technologies would be supported.

Courtesy of the European Parliament