“We urge Congress to end fossil fuel subsidies, and we expect Leader Schumer and Chairman Wyden to stand by their promises to end dirty subsidies to oil, gas, and coal,” said Collin Rees of Oil Change.
Twelve of the largest central banks around the globe continue to support climate chaos-causing fossil fuels through policy and direct finance, a new report released today finds. Ahead of an annual convening of central bankers in Jackson Hole, Wyoming later this week, the analysis strikes a critical contrast to promises in recent months by the same central banks to align their operations with climate goals.
Today, Canada’s export bank, Export Development Canada (EDC), released new climate targets.
Over 500 organizations, including a wide range of health, faith, environmental, and other groups across the United States released a letter today calling on Congressional leadership to eliminate the fossil fuel subsidies embedded in the U.S. tax code.
Over 500 groups released an open letter being sent to U.S. House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, urging them to end fossil fuel subsidies.
The G7 has now fallen squarely behind what leading economists, energy analysts, and global civil society has shown is required: an end to public finance for all fossil fuels. Our climate cannot afford further delay, and the failure of the G7 to heed these demands means more people impacted by the ravages of our climate chaos.
At this year’s G7 meeting countries are discussing how to “build back better” towards a “greener, more prosperous future.” This factsheet explains the current state of G7 finance for fossil fuels and why it needs to shift to clean energy.
“Big Oil’s continued existence is the single biggest threat to our climate, and it’s long past time to end giveaways of public money to fossil fuel companies once and for all,” said Rees.
Local and national organizations across the country are coming together for the virtual Rally to End Polluter Welfare because it’s time for Congress to fund our futures instead of fossil fuels.
National organizations are demanding President Joe Biden appoint a strong climate leader as Federal Reserve Chair who will implement policies and rules at the scale needed to address the climate crisis.