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Climate Expert Calls on China and Japan to End Financing of Coal Plants in Poorer Nations

Dean Kyte discusses the urgent need for China and Japan to stop financing coal-powered plants in low-income nations.

Rich countries like China and Japan need to stop financing coal-powered plants in poorer nations in the fight against climate change, according to Rachel Kyte, who previously served as special representative of the United Nations secretary-general and chief executive officer of Sustainable Energy for All.

Kyte, who is now dean of The Fletcher School at Tufts University, said "coal has no place in the race to net-zero" carbon emissions by 2050. 

"We need those countries that have coal to manage their own energy transitions. And we need to stop financing coal into countries, especially low income countries," she told CNBC's "Street Signs Asia" on Friday.

Kyte's comments come after South Korea's President Moon Jae-in told a climate summit convened by U.S. President Joe Biden on Thursday that the country would stop all new financing of coal plants for overseas.

"To become carbon neutral, it is imperative for the world to scale down coal-fired power plants," Moon said, adding that developing countries that face challenges due to their reliance on coal "should be given due consideration and access to proper support."

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