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G7, Vietnam reach $15.5 bln climate deal to cut coal use

Reuters · Reuters · last updated

The Group of Seven (G7) industrialised nations has agreed with Vietnam to fund the Southeast Asian country’s transition away from coal with $15.5 billion, two Western sources told Reuters on Wednesday.

Related Knowledge Center: ENERGY BASICS: coal

State of Play

The use of coal, a staple of heating and electricity-generation for decades, is in decline in the United States — supplanted by newly abundant production of natural gas — but is still dominant in some parts of the world. While economical, coal use is particularly problematic as international attention focuses increasingly on climate change.

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