Posts in climate finance
- With just a few days left until the 19th Conference of the Parties (COP) of the United Framework Convention on Climate Change (UNFCCC) conference draws to a close, time is running out to reach a meaningful agreement on providing climate finance for developing countries – a key component of the negotiations. But as shown in...
Continue reading 'A Call for Reason in Warsaw: Finance Climate Action, not Fossil Fuel Subsidies'.
- Here in Doha for the UN climate negotiations, we've just released new analysis that shows that fossil fuel subsidies in rich countries are, on average, five times greater than those same countries' pledges towards climate finance.
- Our latest report finds that global fossil fuel production and consumption subsidies are at least $775 billion annually and could be $1 trillion or even more. There is an urgent need for transparency in subsidy reporting.
- Undermining its own credibility in Copenhagen and the integrity of its pledge to phase out support for fossil fuels, an agency of the Obama Administration, the United States Export-Import Bank, has reportedly approved $3 billion in financing for an Exxon led consortium constructing a liquefied natural gas plant on Papua New Guinea. The Obama Administration...
Continue reading 'As Copenhagen begins, Obama Approves $3 Billion for Exxon'.