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Over the past three months, South Korea and Japan, the second- and third-largest financiers of overseas coal power have announced plans to end this practice in principle.

In April, South Korea said it would stop funding new overseas coal projects. In May, Japan signed on to a statement stating that Group of Seven members will phase out direct government support for unabated overseas coal by the end of 2021, with the exception of “limited circumstances at the discretion of each country.”

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