MNI China Daily Summary: Wednesday, December 11

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MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

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MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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EU Supports India’s Call To Phase Down All Fossil Fuels

ENERGY

The European Union supports demands by India to phase down fossil-fuel consumption as part of a COP27 deal if it does not weaken previous agreements on reducing coal consumption, EU climate policy Chief Frans Timmermans said.

  • "We are in support of any call to phase down all fossil fuels”, Timmermans said.
  • "But we also have to make sure that this call does not diminish the earlier agreements we had on phasing down coal, so if it comes on top of what we already agreed in Glasgow, then the EU will support in this proposal”, he added.
  • India asked countries to agree to phase down all fossil fuels, rather than only to phase down coal-fired generation that was agreed at Cop26.
  • The latest Cop27 provisional deal document does not refer to fossil fuels.
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