This increases the number of signatories to 29 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 21.7 billion per year.
Press Releases
Netherlands joins commitment to end international oil, gas, and coal finance, leaving Germany and France lagging behind
Last Thursday on November 4, 25 countries and institutions committed to end international public finance for unabated oil, gas, and coal by the end of 2022 at the United Nations climate conference in Scotland (COP26). Today, the Netherlands has confirmed that it will also join the initiative.
United States joins 20+ countries in committing to end international finance for oil, gas, & coal by end 2022
Today the United States and over 20 other countries and institutions from both developed and developing countries committed to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance.
CSOs welcome historic 20+ country-strong commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow
Today at COP26, more than 20 countries and institutions launched a joint statement committing to end direct international public finance for coal, oil and gas by the end of 2022 and prioritize clean energy finance. This initiative could directly shift more than USD 18 billion a year of support out of fossil fuels and into clean energy.
New Ad Urges Biden To Reject Fossil Fuel Projects Following Methane Announcement at COP26
U.S. environmental and climate justice groups launched a new print ad in The Herald, Scotland’s largest daily newspaper, calling on President Biden and U.S. delegates to reject 23 liquefied natural gas terminals and pipelines sitting on their desks for approval.
New Report: Climate Plans of Major Canadian Oil and Gas Producers Undercut Canada’s Commitment to 1.5ºC
The climate plans of major oil and gas companies operating in Canada rank among the worst worldwide and will accelerate the climate crisis rather than help Canada and the world limit warming to 1.5 degrees Celsius (ºC), according to a new report launched at the UN Climate Change Conference.
U.S. Grassroots Leaders Greet Biden at COP26 with Push to End Fossil Fuels
The Build Back Fossil Free campaign rallied ahead of U.S. President Joe Biden’s remarks at the United Nations climate summit today in Glasgow, urging Biden to take executive action to stop fossil fuel projects.
Response to U.S. President Joe Biden’s Speech at COP26 Climate Talks
“President Biden’s claim that the U.S. is ‘leading by example’ is a slap in the face to communities suffering daily from the impacts of the climate crisis and fossil fuel extraction,” said Rees.
New Report: G20 governments Have Bankrolled More Than $188 Billion in Fossil Fuels Since 2018
New report updates analysis of public financing for energy projects ahead of expected joint announcement to end these flows at COP26.
New OECD coal financing restrictions represent weak progress
Today the OECD Export Credit Group announced new restrictions on its support for overseas coal projects. The restrictions do not address export finance for coal mines and related infrastructure, nor oil and gas financing even if the latest IEA report shows that investments in new fossil fuel production need to end this year to limit warming to 1.5°C.