Tokyo | South Korea, Australia’s third-largest customer of thermal coal, has committed to phasing out the electricity-producing fuel by 2040, dealing a major blow to exporters and adding pressure on other Asian countries to accelerate their transition away from fossil fuels.
Seoul announced the move at the COP30 climate summit in Brazil, making it the first major coal-burning nation in Asia to formally commit to phasing it out as it joined the Powering Past Coal Alliance.
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