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Utilities Move Lower -- Utilities Roundup

09/14/2021 | 05:37pm EDT

Shares of power producers were lower.

The U.S., European Union, South Korea and other wealthy nations are moving to forbid their export-financing agencies from supporting coal-fired power projects overseas in an effort to end government support for a fuel that is one of the world's biggest sources of greenhouse gases. The proposed ban, which will be made this week at the Organization for Economic Cooperation and Development, is part of the West's campaign to push China, India and other big developing countries to take a tough position against coal ahead of the November climate summit in Glasgow, Scotland.

China and India have resisted entreaties by the U.S. and Europe to commit to end subsidies for coal-fired electricity, raising fears that deadlock over the issue could result in the collapse of climate negotiations in Glasgow.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

09-14-21 1736ET

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