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Germany plans to keep funding new gas projects overseas despite pledge

Germany plans to support new gas projects overseas until 2025 in a potential breach of its commitment to end international fossil fuel financing. The government's export credit agency has released its draft policy for the provision of guarantees in the energy sector in what it described as an attempt to tie them to climate protection targets. The guidelines were expected to belatedly align the German agency's operations with a pledge made at Cop26 in Glasgow to end funding for coal, oil and gas projects overseas by the end of last year.

July 27, 2023

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