A network of secretive, government-backed financial institutions called export credit agencies are handing more than $31 billion USD per year to the oil, gas, and coal industry, new analysis by Oil Change International and Friends of the Earth U.S. shows.
Stop Funding Fossils
Adding Fuel to the Fire: Export Credit Agencies and Fossil Fuel Finance
This report from Oil Change International and Friends of the Earth U.S. shows that since the Paris Agreement was made, G20 countries have used their export credit agencies to provide nearly 12 times more finance to fossil fuels than to clean energy.
IEA scenarios may not stand the test of climate litigation: Dutch Supreme Court ruling (Shell should pay attention)
By Laurie van der Burg As the climate crisis wreaks havoc across the globe and we enter a decade that will make or break our ability to limit warming to 1.5°C, Big Oil continues to use the International Energy Agency’s (IEA) dangerous scenarios to justify major new investments in oil and gas, including in court. … Read More
British Columbia is trying to fuel an LNG boom with billions in industry handouts
The Canadian province of British Columbia (BC) is shaping up to be one of the worst actors in the global dash for gas, facilitating Indigenous rights violations and climate chaos while they try to stake out a reputation as progressive leaders on both.
Canada to Trudeau: We expect more on climate
Yesterday, millions of Canadians headed to the polls and knocked the Liberals’ majority government down to minority status. This was a clear signal to Prime Minister Justin Trudeau and his party that voters expect more and better action from a Liberal government to confront the climate crisis.
Briefing: Why Congress Must Stop Blocking Climate Progress on International Finance
There is an urgent need to ensure that anti-climate riders stay out of appropriations packages for Fiscal Year 2020 as Congress and the Trump Administration continue to negotiate a spending package.
One year to the Tokyo Olympics… and an end to Japan’s coal finance?
Next summer’s Olympic Games are at risk due to heatwaves and there’s one story Japan likely doesn’t want out there: the fact that it’s currently one of the world’s biggest supporters of coal.
G20 Coal Subsidies: Tracking Government Support to a Fading Industry
G20 governments continue to provide billions of dollars for the production and consumption of fossil fuels. This report finds that they provide at least USD $63.9 billion per year in government support to the production and consumption of coal alone, with almost three-quarters of the support identified being directed to coal-fired power production.
EU’s lending arm wants more pipelines and the Paris Agreement – it can’t have both
The European Investment Bank (EIB) is the world’s largest multilateral lender, bigger even than the World Bank. As a public bank, it’s tasked with providing finance in the EU public interest, and it has an outsized influence on the EU’s energy system because of the private investment it can “crowd in” and the sheer amount of money it has at its disposal.
Briefing: Why the U.S. Export-Import Bank Must End Financing for Fossil Fuels
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.
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