Over the past decade, nearly 90% of the U.S. Export-Import Bank’s total finance for energy projects has flowed to projects in oil, gas, and coal. As momentum grows for climate solutions in the U.S. and abroad, there is an urgent need for a ban on fossil fuel financing at ExIm.
There is no room for further financing of fossil gas or any other fossil fuel projects by the EIB. This briefing calls for the new Energy Lending Policy to reflect this reality. The EIB cannot claim to uphold its commitment to align its finance with the Paris Agreement if it continues to finance fossil gas projects.
To help inform the alignment of the MDBs with the Paris Agreement, this briefing explores the use of shadow carbon pricing by MDBs and considers some best practices and limitations in the application of shadow carbon prices.
The ACP is facing a triple threat of challenges that combine to present serious obstacles for the project to reach completion, which are are likely to further delay construction and raise the project’s price tag even higher. It would be prudent for investors to question whether pursuing the project further is a wise use of capital.
Investors often use the WEO to assess energy investments. Contrary to the IEA’s claims, its ‘Sustainable Development Scenario’ (SDS) is not aligned with the Paris goals.
The twin challenges of air pollution and climate change demand a rapid transition away from fossil fuels, and a particularly rapid phase-out of coal-fired power plants. Despite this, the Korean government continues to be among the biggest backers of coal-fired power plants around the world.
Investor briefing, October 2018 Co-published with Greenpeace Download the briefing The IEA scenarios — including the Sustainable Development Scenario (SDS) — fall short of the Paris Agreement goals and therefore don’t actually answer the question investors are asking, namely: are companies prepared for a world that takes the Paris Agreement seriously? The SDS is not providing an … Read More
Ireland is on course to miss both its short-term climate commitments within EU legislation, and its long-term target of reducing greenhouse gas emissions from the energy sector by between 80 and 95 percent by 2050. Expanded gas extraction will only make it more difficult to achieve these goals, and must be avoided in order to achieve a safe climate future.
Empty Promise: US Bank Continues Pipeline Finance Published by Oil Change International in partnership with Indigenous Environmental Network, Earthworks, Greenpeace, MN 350, and Rainforest Action Network, April 12, 2018 Download the briefing Following waves of pressure over the controversial Dakota Access Pipeline (DAPL), US Bancorp (US Bank) CEO Andrew Cecere won praise from Indigenous rights and … Read More
How the IEA Guides Energy Decisions Towards Fossil Fuel Dependence and Climate Change