SEOUL (Bloomberg): South Korea, which has invested billions of dollars in overseas coal plants, is debating whether to halt financing further projects amid pressure to accelerate climate efforts ahead of President Joe Biden’s summit next week.
The discussions follow mounting pressure from the US which wants the Asian nation to stop backing coal-fired power plant developments abroad as well as bolster emissions reduction targets at home, according to government officials who requested anonymity to discuss private talks.
Biden’s climate envoy John Kerry is scheduled to arrive in Seoul this week for talks ahead of a virtual White House climate summit on April 22.
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