“Ending government support for fossil fuels is a no-brainer. Globally, governments are still propping up fossil fuels with huge sums of public money, behaviour that is incompatible with keeping global warming below 1.5ºC,” said Laurie van der Burg.
The IEA is finally taking a major step towards living up to its ambition to lead the clean energy transition.
Yesterday’s violent insurgency at the U.S. Capitol and a number of state capitals, provoked and supported by Donald Trump and his enablers in Congress and the Executive Branch, was reprehensible.
The United Kingdom’s prime minister, Boris Johnson, will commit to end the UK’s overseas fossil fuel financing “as soon as possible” at the Climate Ambition Summit. The phase-out of oil, gas, and coal financing applies to aid funding, trade promotion and export finance provided by UK Export Finance (UKEF), the institution that has come under scrutiny for its USD 1 billion investment in a controversial LNG project in Mozambique and for considering to finance the equally controversial East African Oil Pipeline.
A new report by Oil Change International on the Mountain Valley Pipeline (MVP) reveals that banks have continued pouring money into the project over recent years, despite numerous warnings that the project has been financially unsustainable and a threat to the climate.
This analysis, an update to our 2017 report, reveals that the estimated cost of the Mountain Valley Pipeline has nearly doubled since 2017, increasing the potential project cost from USD 3.5 billion to between $6.3 and $6.5 billion.
On November 10, 1995, Ken Saro-Wiwa and eight other Ogoni activists — Saturday Dobee, Nordu Eawo, Daniel Gbooko, Paul Levera, Felix Nuate, Baribor Bera, Barinem Kiobel, and John Kpuine — were hanged by the Nigerian dictatorship in Port Harcourt. Their only crime? Exposing the devastating impact that Shell Petroleum Development Company’s extraction of fossil fuels from the Niger Delta had on the Ogoni land, lives, and livelihoods.
In this new report we consider recovery commitments and pre-pandemic policies to rank G20 countries’ progress in phasing out support to fossil fuels. We find at least USD 584 billion per year between 2017 and 2019 in public support for fossil fuels from G20 governments.
We’re in this together, and we’re going to get through the next few days by continuing to show up, calling each other to action, and appreciating the ones fighting right besides you – knowing that you are in a community of millions fighting for justice. These next few days, we will let those who want … Read More
“This report shows that the UK has a clear opportunity to show climate leadership and stop propping up deadly fossil fuels with public money.
“Chase’s path to aligning with the Paris Agreement is obvious — it must stop funding fossil fuels immediately. Anything short of an end to fossil finance is woefully insufficient.”