New report shows that between 2020 and 2022, G20 governments and the multilateral development banks (MDBs) provided $142 billion in international public finance for fossil fuels, almost 1.4 times their support for clean energy in the same period.
Japan
Pikachu-clad activists at COP28 call on Japan to end financing for fossil fuels
A global coalition of civil society groups organized a demonstration at the COP28 climate negotiations in UAE on “Finance Day” to demand that the Japanese government stop financing new fossil fuel projects and shift support to renewable energy. The action featured activists wearing inflatable Pikachu costumes and a slogan calling on Japan to say #SayonaraFossilFuels.
Civil society reactions to Japanese Prime Minister Fumio Kishida’s speech at COP28
Today, at COP28 World Leaders’ Summit, Japanese Prime Minister Fumio Kishida said that unabated coal-fired power plants should be addressed within the context of each country’s own pathway to net-zero. He also highlighted Japan’s support of the “Asia Zero Emission Community and said Japan will help increase the World Bank and ADB’s lending capacity by … Read More
Australia’s largest-ever civil disobedience protest stops half a million tonnes of coal exports
They are calling it the largest civil disobedience climate protest in the history of Australia. This weekend, thousands of activists, young and old, from across the country descended on the world’s largest coal port at Muloobinba (Newcastle), on Awabakal and Worimi land and water.
Backgrounder: Japan’s fossil finance threatens to derail the energy transition in Asia and globally
Despite the urgent need to phase out fossil fuels, Japan is driving the expansion of liquified gas (LNG) and other fossil-based technologies like ammonia co-firing, worsening the climate crisis and harming communities and ecosystems.
Experts react to Japan and South Korea’s joint hydrogen and ammonia initiative
Today, Japanese and South Korean leaders are expected to announce a joint supply network for hydrogen and ammonia at the Asia Pacific Economic Cooperation (APEC) meeting. The initial announcement did not restrict the supply chain to renewable energy-based green hydrogen and ammonia, according to the Nikkei report of the development.  Without clear guardrails, experts say … Read More
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.
CSOs condemn G7 leaders for dangerous backsliding on gas, breaching commitments to end fossil fuel finance
“At a time when we rapidly need to phase out fossil fuels, this year’s G7 host has pushed for the expansion of gas and LNG and technologies that would prolong the use of coal,” said Susanne Wong, Asia Program Manager.
Groups Pressure Japan, Biden to Oppose Global LNG Expansion + Stop G7 Push for Fossil Finance
“Our communities and climate cannot afford more fossil fuels, nor more dangerous distractions like carbon capture, hydrogen, or ammonia — it’s long past time to end the era of fossil fuels,” said Collin Rees.