European countries back weakened fossil fuel financing pledge

Ten European states agreed on Friday to spell out this year how they will limit export finance support for overseas fossil fuel projects, but they shelved a draft pledge to explicitly end it after pushback from Italy, Qazet.az reports according to Reuters.

At last year's United Nations COP26 climate change summit, 20 countries including Italy, the United States and Germany promised to stop public funding for overseas fossil fuel projects by the end of 2022.