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COP26

Climate fund to back India, Indonesia, Philippines coal phaseout

$2.5bn program unveiled by multilateral Climate Investment Funds at COP26

Unloading coal in Ahmedabad, India, in October: Decommissioning coal facilities is considered more complex than adding renewable infrastructure.   © Reuters

TOKYO -- The multilateral Climate Investment Funds will invest about $2.5 billion to help developing countries that rely on fossil fuels to phase out coal, initially targeting India, Indonesia, the Philippines and South Africa.

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