With the health and livelihoods of billions at risk from COVID-19, governments around the world are preparing historic levels of stimulus finance. Building a Just Recovery that avoids the worst of climate change means overhauling our public finance institutions fast.
Since the implementation of the Paris Agreement, G20 countries have provided at least USD 77 billion a year in finance for oil, gas, and coal projects.
This report reveals G20 countries have provided at least $77 billion a year in public finance to oil, gas and coal projects since the Paris Agreement through their international public finance institutions. This government-backed support to fossil fuels from export credit agencies, development finance institutions, and multilateral development banks is more than three times what they are providing to clean energy
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.
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.
Donald Trump can’t stop the sun from shining
New research published today and presented at the UN climate talks in Bonn, predicts that following three years of almost no growth, the burning of fossil fuels will reach a record high this year.
FOR IMMEDIATE RELEASE September 5, 2016 Contact: Alex Doukas, alex [at] priceofoil [dot] org G20 leaders fail to act on fossil fuel subsidies, undermining Paris climate goals In response to the statements on fossil fuel subsidies in the G20 Leaders’ Communique, which fail to establish a deadline for the phase out of subsidies, Oil Change International has … Read More
In moving towards an end to government funding for the fossil fuel industry, President Obama and President Xi are demonstrating real, substantive progress towards the 2009 G20 Leader’s Pledge of phasing out fossil fuel subsidies.
One step forward – two steps back or two steps forward one step back? It’s been a topsy turvy couple of weeks as far as the climate is concerned. We have had the Republicans gaining control of both sides of the House and Obama pulling a climate rabbit out of the hat with the US-China deal.