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November 3, 2022

Regulatory Round-up: EU supports fossil fuel non-proliferation treaty; China, Singapore launch green finance taskforce

By Victor Smart

Ahead of COP27, the European Parliament has called on EU governments to work on the development of a fossil fuel non-proliferation treaty, which would establish an international mechanism for the equitable phase-out of oil, gas and coal production.

Member states are urged to drop their plans to expand and invest in fossil fuels and instead provide international assistance to respond to the energy and climate crises hitting developing countries being hit most severely by the energy and climate crises. In September, the island country of Vanuatu was the first to call for such a treaty, which has also gained the support of the World Health Organisation.

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