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The Waorani people of Ecuador have won a historic victory in court protecting half a million acres of their territory in the Amazon from oil drilling.
"Doubling down on new drilling is incompatible with climate leadership, and for the first time we’re seeing a California governor recognize and begin to act on this reality," said Kelly Trout.
Is history about to repeat itself? Fourteen years after Hurricane Katrina swamped New Orleans and the coast of Louisiana, the region is bracing itself for Tropical Storm Barry.
"If we push the Earth system too far, then it takes over and determines its own response—past that point there will be little we can do about it."
REPORTS & BRIEFINGS
G20 governments continue to provide billions of dollars for the production and consumption of fossil fuels. This report finds that they provide at least USD $63.9 billion per year in government support to the production and consumption of coal alone, with almost three-quarters of the support identified being directed to coal-fired power production.
Over the past decade, nearly 90% of the U.S. Export-Import Bank's total finance for energy projects has flowed to projects in oil, gas, and coal. As momentum grows for climate solutions in the U.S. and abroad, there is an urgent need for a ban on fossil fuel financing at ExIm.
There is no room for further financing of fossil gas or any other fossil fuel projects by the EIB. This briefing calls for the new Energy Lending Policy to reflect this reality. The EIB cannot claim to uphold its commitment to align its finance with the Paris Agreement if it continues to finance fossil gas projects.
To help inform the alignment of the MDBs with the Paris Agreement, this briefing explores the use of shadow carbon pricing by MDBs and considers some best practices and limitations in the application of shadow carbon prices.