UPDATE 1-EU to urge rich nations to cut coal subsidies -EU sources

Tue Nov 10, 2015 1:19pm EST
 
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* OECD has been seeking compromise for more than year

* EU studies U.S.-Japan compromise on subsidies

* Australia, South Korea seen unlikely to back compromise (New throughout, adds details and background about U.S.-Japan compromise and comments from environmental activists)

By Barbara Lewis and Valerie Volcovici

BRUSSELS/WASHINGTON, Nov 10 (Reuters) - European Union negotiators will push other rich countries next week for a robust deal to phase out subsidies for exports of technology used to build coal-burning power plants, EU sources said.

Upcoming talks at a Paris meeting of the Organisation for Economic Cooperation and Development (OECD) may be a final chance to end export credits for coal, the most polluting of fossil fuels, before United Nations climate talks on a global deal to curb climate change.

The U.N. talks begin on Nov. 30, also in Paris.

The OECD has been seeking a compromise on coal export credits for more than a year and has called the phase-out of fossil fuel subsidies "alarmingly slow".

Prospects for a deal improved after Japan agreed to a compromise proposal with the United States. The plan, seen by Reuters, would end most export credits except for the most efficient "ultra super critical" technology.   Continued...