The Republican plan not only refuses to end massive public giveaways to the fossil fuel industry, but also foists the cost on the American public through user fees rather than repealing Trump and the GOP’s tax cuts for billionaires and rich corporations. This plan is a joke.
Press Releases
National U.S. Environmental Groups Host Rally to End Fossil Fuel Subsidies
Local and national organizations across the country are coming together for the virtual Rally to End Polluter Welfare because it’s time for Congress to fund our futures instead of fossil fuels.
Stop the Money Pipeline Responds to President Biden’s Executive Order on Climate-Related Financial Risk
The Stop the Money Pipeline Coalition welcomes Biden’s Executive Order as an important step for the climate finance movement and urges the administration to deliver strong reports and action plans ahead of the COP26 climate talks in Glasgow.
Oil Change International response to Biden climate finance Executive Order
“President Biden’s executive order is a welcome change from past failures to regulate the financial industry, but the Biden administration must make it crystal-clear that ‘net zero’ means no more fossil fuel expansion and no false solutions,” said Rees.
IEA’s first 1.5°C-aligned scenario bolsters call for no new fossil fuel extraction
The IEA’s new 1.5°C-aligned scenario finds “no need for investment in new fossil fuel supply.” This represents a break from past IEA reports that boosted new oil and gas development by focusing on scenarios that steered the world towards catastrophic levels of warming. This is a big step in the right direction.
Spain becomes latest country to ban new oil and gas exploration and production
Yesterday, the Spanish Parliament adopted a wide-ranging Climate Change and Energy Transition law, which includes a ban on new fossil fuel exploration and production licenses.
National groups demand Biden appoint a strong climate leader as Federal Reserve Chair
National organizations are demanding President Joe Biden appoint a strong climate leader as Federal Reserve Chair who will implement policies and rules at the scale needed to address the climate crisis.
Fossil Free ADB reaction to Asian Development Bank draft energy policy
The Asian Development Bank issued its draft energy policy on Friday following the conclusion of its 54th Annual Meeting and clarion calls from the United Nations to end financing for all fossil fuels including gas. This first draft has ruled out financing for coal but allows for continued gas finance which dominates the ADB’s fossil fuel lending.
Export credit agencies and states potentially at risk of climate litigation over finance for fossil fuels
A new legal opinion lays out the international law obligations of ECAs that are responsible for tens of billions of dollars per year in support for fossil fuels.
New analysis shows ADB has spent $4.7 billion financing gas
A new analysis shows the Asian Development Bank has spent $4.7 billion financing gas projects in the region. This undermines its stated commitments on climate and efforts to achieve a “prosperous, inclusive, resilient, and sustainable Asia and the Pacific.”