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Rich Nations Scramble to Seal Coal Transition Deals Before COP27

May 2, 2022, 10:00 AM

As they prepare for the next round of global climate talks in November, officials from rich countries are trying to pull together a series of multibillion-dollar packages to help poor countries phase out coal.

But negotiations have been snarled by national politics and Russia’s war in Ukraine, which has made the dirtiest fossil fuel a lucrative commodity to mine and export, according to people familiar with the talks who asked not to be identified because the discussions are private.

The talks stem from a landmark $8.5 billion pledge by the U.K., U.S. and European Union before last year’s COP26 summit ...