A comprehensive report released today by Oil Change International exposes the failure of the five major North Sea oil and gas producing countries – Norway, UK, Denmark, the Netherlands, and Germany – in terms of aligning its oil and gas policies with the Paris Agreement, posing a grave threat to global efforts to combat the climate crisis.
Germany
Press Conference: New Report Reveals North Sea Countries’ Oil and Gas Plans Breach Paris Agreement
Join us for a critical press conference addressing the failure of the five major North Sea oil and gas-producing countries – Norway, United Kingdom, the Netherlands, Germany, and Denmark – to fulfill their climate commitments. The press conference will unveil a comprehensive report and set of benchmarks rating North Sea countries’ oil and gas production policies by their level of alignment with the Paris Agreement developed by Oil Change International.
New analysis: International agreement builds momentum for shifting billions away from fossil fuels, but U.S., others lag behind
U.S. single biggest violator of CETP pledge, approving the most fossil fuel projects of any signatory for a total of almost USD $2.3 billion.
REVEALED: Taxpayer-funded fossil fuel projects from the U.S., Germany, and Italy breach international climate commitments
Rich countries have continued to approve USD 4.4 billion in international public finance despite committing to end this support by the end of 2022. Six countries including the United States, Germany, Italy and Japan have at least 26 fossil fuel projects awaiting approvals, with Germany having the biggest number of projects pending.
Fossil Finance Violations: Tracking Fossil Fuel Projects that violate commitments to end international public finance for fossil fuels
*Updated February 2024* Oil Change International analysis shows that several major countries continue to pump $6.2 billion in public finance into international fossil fuel projects despite committing to end this support by the end of 2022.
Germany Fails to Lead at E3F Summit and Threatens Decades of Fossil Fuel Lock-In
Rather than building momentum towards COP27 through delivering strong policies and a harmonized approach to implementing the collective promise to end international public finance for fossil fuels by the end of 2022, the Summit was overshadowed by backsliding.
CSOs condemn G7 leaders for caving in to gas industry and weakening pledge to end international public finance for fossil fuels
G7 leaders watered down a commitment made in May by their energy ministers to end international public finance for fossil fuels by the end of this year, drawing a swift rebuke from climate and development campaigners.
CSOs say E3F countries need to act with urgency and integrity to meet commitments to end export finance for fossil fuels
The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas – as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.
New research: E3F countries need to shift their EUR 20 billion in export finance for fossil fuels to renewables
A policy brief released today by OCI and ODI shows that despite their commitment to align financial flows with climate goals under the Paris Agreement adopted in 2015, the E3F countries still provided €20 billion in export finance for fossil fuel projects abroad between 2018 and 2020.
Spain joins commitment to end international oil, gas, and coal finance, bringing total for potential finance shifted to USD 23.6 billion per year
This increases the number of signatories to 30 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 23.6 billion per year. This equals 37% of annual public finance for fossil fuels provided by G20 countries and the Multilateral Development Banks (MDBs) between 2018 and 2020.