Over 200 civil society groups released a letter calling on multilateral development banks, including the World Bank, and leaders of G20 governments to commit to phase out subsidies and public finance for fossil fuels as soon as possible.
Resources
Briefing: Dirty Dozen â How Public Finance Drives the Climate Crisis through Oil, Gas, and Coal Expansion
To have any hope of meeting globally-agreed climate goals, global financial flows must rapidly align with low-emission, climate-resilient development, and government-backed public finance institutions like the World Bank must signal this transition.
Fact Sheet: Despite Paris Agreement, Governments Still Fund Billions in Fossil Fuel Finance Each Year
Instead of funding clean energy solutions, G20 governments and multilateral development banks still overwhelmingly fund the problem, averaging nearly $72 billion per year in public finance for fossil fuels compared to less than $19 billion per year for renewable energy.
Burning the Gas âBridge Fuelâ Myth
This analysis provides five clear reasons why fossil gas is not a “bridge fuel.â It shows that even with zero methane leakage, gas is not a climate change solution.
Time to Stop Digging: Why Germany’s Climate Leadership Requires a Rapid Phaseout of Fossil Fuel Production and Finance
Germany is falling far short of true climate leadership â our new report details why it must end coal production swiftly with a just transition and stop funding fossil fuels aboard.
Sign-on Letter: Oppose Expanding the 45Q Tax Credit for Oil, Gas and Coal Companies
Organizations from frontline communities – where Americans that are most impacted by climate change and the fossil fuel industry live – and organizations working in solidarity with them, are urging lawmakers to reject the FUTURE Act (S.1535) and the Carbon Capture Act (H.R.1379) – and to oppose its inclusion in a tax policy package.
Sign-on Letter: No Subsidies for Enhanced Oil Production
More than 30 environmental, public health, consumer, and climate groups delivered a letter to members of Congress in opposition to the FUTURE Act (S.1535) and Carbon Capture Act (H.R.3761) – and any attempts in a tax policy package to extend or expand subsidies for enhanced oil production.
Funding Tar Sands: Private Banks vs. the Paris Climate Agreement
According to a new report released today by Rainforest Action Network, Oil Change International, and 10 organizations from around the world, commercial banks continue to finance the tar sands sector at levels that do not align with the Paris Agreement 1.5° to 2° target â and finance levels are surging in 2017.
Whatâs the plan?
Why we canât hide from the discussion about a managed decline of fossil fuel production. It is clear that the end of the fossil fuel era is on the horizon. Between plummeting renewable energy costs, uncharted electric vehicle growth, government commitments to decarbonization enshrined in the Paris agreement, and a growing list of fossil fuel … Read More
In the Pipeline: Risks for Funders of Tar Sands Pipelines
A new report exposes the huge financial risks behind three major Canadian tar sands pipeline project proposals: Kinder Morganâs Trans Mountain Expansion, TransCanadaâs Keystone XL and Enbridgeâs Line 3 expansion.