AlwaysFree: Germany To End Financing Of Overseas Fossil Fuel Projects

Germany on Tuesday signed the declaration to end public financing of unabated fossil fuel projects abroad by the end of 2022. More than 25 countries and institutions have signed the declaration aimed to stop new direct funding to coal, oil, and gas projects, except they are consistent with the goals of the Paris climate accord. Germany also signed the global coal to clean power transition statement, intended to support the shift from unabated coal power generation in the 2030s. Germany generates 8.6% of its electricity from coal and 19.3% from lignite or brown coal. Renewables account for 48.3% of Germany’s power generation mix so far this year.