G20 Backtracks on Fossil Fuel Funding Phase-Out in COVID-19 Recovery

November 9, 2020By Bronwen TuckerNews, Press Releases, Stop Funding Fossils No Comments

Despite repeated pledges to end inefficient fossil fuel subsidies, G20 governments’ support to fossil fuels has dropped by only 9% since 2014–2016, hitting USD 584 billion annually over the last three years, according to a report released today by the International Institute for Sustainable Development (IISD), the Overseas Development Institute (ODI), and Oil Change International (OCI).

EU’s lending arm wants more pipelines and the Paris Agreement – it can’t have both

June 18, 2019By Bronwen TuckerBlog Post, Fossil Gas, Stop Funding Fossils

The European Investment Bank (EIB) is the world’s largest multilateral lender, bigger even than the World Bank. As a public bank, it’s tasked with providing finance in the EU public interest, and it has an outsized influence on the EU’s energy system because of the private investment it can “crowd in” and the sheer amount of money it has at its disposal.