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.
As G20 energy ministers met in Argentina last week, the fossil gas agenda contradicted the stated commitment on climate of all but one member.
As G20 energy ministers gather in Argentina, a new report out today entitled ‘Debunked: The G20 Clean Gas Myth’ finds that G20 countries, in the absence of new policies, are set to see investment of over $1.6 trillion USD in new gas projects.
This report focuses on fossil gas development in the G20 and debunking the myth of fossil gas as a clean transition fuel.
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.
Donald Trump is so “isolated” or “irrelevant” on climate change that the US will meet or even exceed its Paris Agreement emission targets without him, according to former Vice-President, Al Gore.
FOR IMMEDIATE RELEASE July 8, 2017 CONTACT: Alex Doukas, alex [at] priceofoil [dot] org Stephen Kretzmann, steve [at] priceofoil [dot] org In response to the language in the G20 Leaders’ Communique from the 2017 summit in Hamburg, which fails to establish a deadline for the phase out of fossil fuel subsidies, Oil Change International … Read More
A Trump vs. the world showdown is brewing at this year’s G20 leaders’ summit, July 7 and 8 in Hamburg, Germany. After pulling the United States out of the Paris Agreement, Trump’s climate denial will likely take a beating from other G20 governments, who nearly all say they support strong climate action. An ugly diplomatic … Read More
As the G20 talks commence, the new international “Climate Pariah” Donald Trump is going to come under intense pressure from the G20 to reconsider pulling out of the Paris Climate agreement.
Each year, G20 countries provide nearly four times more public finance to fossil fuels than to clean energy. In total, public fossil fuel financing from G20 countries averaged some $71.8 billion per year, for a total of $215.3 billion in sweetheart deals for oil, gas, and coal over the 2013-2015 timeframe covered by the report. Fifty percent of all G20 public finance for energy supported oil and gas production alone.