Our new report shows that certified gas programs are likely highly unreliable and ineffective, resulting in increased threats to health and climate from the oil and gas industry.
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IEA report reaffirms G7 must end new gas expansion to meet 1.5ÂșC commitment
Today, ahead of the G7 Climate, Energy and Environment Ministerial meeting this weekend in Japan, the International Energy Agency (IEA)released analyses to inform the G7 energy agenda, including on the outlook for fossil gas.Â
Banking on Climate Chaos 2023: Fossil Fuel Finance Report
This report, Banking on Climate Chaos 2023, analyzes fossil fuel financing and policies from the worldâs 60 largest commercial and investment banks. We reveal that fossil fuel financing from the worldâs 60 largest banks has reached nearly USD $5.5 trillion in the seven years since the adoption of the Paris Agreement, with $673 billion in 2022 alone.
New Report: Canadian Bank RBC the #1 Financier of Fossil Fuels, Worldâs Biggest Banks Continued to Pour Billions into Fossil Fuel Expansion
In the seven years since the Paris Agreement was adopted, the worldâs 60 largest private banks financed fossil fuels with USD $5.5 trillion. The report lays bare the shocking fact that even as fossil fuel companies made $4 trillion in profits in 2022, banks still provided $673 billion in financing. Remarkably, this happened while oil majors like Exxon Mobil and Shell PLC asked for $0 financing from banks in 2022.
Over 100 Groups Urge Biden Administration to Stop Japan’s G7 Push for LNG Expansion
Over 100 groups sent a letter to Biden Administration officials ahead of this weekâs G7 meeting of climate change and environmental ministers urging the United States to resist the Japanese push for increased public investments in LNG.
Japanâs G7 Presidency Threatens Progress to End Fossil Fuel Financing
As G7 Climate, Energy and Environment Ministers prepare to meet in Japan, two new briefings launched today show the extent to which G7 countries are succeeding and failing in holding up their climate and energy security commitments.Â
Climate Expectations for World Bank Group Spring Meetings
“The World Bank cannot be effective on climate action until it stops adding fuel to the fire. We’ll be looking to shareholders and Bank leadership to make serious commitments to stop all forms of support for fossil fuels,â said O’Manique.
G20 public money enabled 82% of LNG export infrastructure expansion, breaking climate promises
Government-backed LNG projects are exposing the public to stranded asset risks and causing emissions nearly twice the annual emissions of Canada.
OECD risks labeling gas and other fossil-based technologies climate-friendly
The OECD has adopted a new list of âclimate-friendlyâ projects that will benefit from preferential financial terms for export support. But a number of projects are poorly defined, potentially allowing for preferential financial incentives for export credit agency investments in gas.
Italy breaks climate promise to end public financing for international fossil fuel projects, publishing âworst-in-classâ climate policy
Italyâs far right government has broken a major climate pledge to end public financing for international fossil fuel projects, instead producing the worst policy among countries that signed the 2021 commitment.