Oil Change International
April 2023
G7 countries can shift billions into clean energy if they strengthen their commitment to end international fossil finance
This briefing provides preliminary energy finance data for 2022 and shows that not only investments in new fossil fuel infrastructure are incompatible with meeting climate goals, but also that they are not needed for energy security and development goals. What is needed is a rapid scale-up of clean energy solutions.
The G7 has the opportunity to accelerate the energy transition by delivering on their commitment to end international public finance for fossil fuels, and by committing to a managed phase-out of fossil fuel production alongside a rapid scale-up of clean energy solutions on a timeline compatible with limiting warming to 1.5 degrees Celsius (°C).
However, as this year’s G7 host, Japan is undermining this potential progress by pushing for increased gas finance, ammonia co-firing and other fossil-based technologies that will expand the use of fossils and undercut meaningful climate action at the G7.
This expresses my feelings exactly!
Between 2020 and 2022, the G7 provided at least USD 73 billion in public finance support to fossil fuel projects, almost 2.6 times more than their support for clean energy over the same period.
Japan, Germany, and Italy have not yet delivered on their climate commitments from last year’s G7 summit to end new direct public support for the international unabated fossil fuel energy sector.
Japan’s new “Green Transformation” energy strategy is an exercise in greenwashing designed to benefit Japanese corporate interests, not Asia. The policy relies heavily on fossil fuel-based technologies instead of renewable energy solutions.
Canada, the United Kingdom, and France have met their commitments and now have policies in place that restrict their fossil fuel financing.
G7 countries can shift billions into clean energy if they strengthen their commitment to end international fossil finance. Defund life killing extraction projects!
I fear climate change will prevail and the human race will fade into extinction as did the dinosaurs. Greed and avarice are supreme with the moneyed people who care for nothing.
Between 2020 and 2022, the G7 provided at least USD 73 billion in public finance support to fossil fuel projects, almost 2.6 times more than their support for clean energy over the same period.
Japan, Germany, and Italy have not yet delivered on their climate commitments from last year’s G7 summit to end new direct public support for the international unabated fossil fuel energy sector.
Japan’s new “Green Transformation” energy strategy is an exercise in greenwashing designed to benefit Japanese corporate interests, not Asia. The policy relies heavily on fossil fuel-based technologies instead of renewable energy solutions.
Canada, the United Kingdom, and France have met their commitments and now have policies in place that restrict their fossil fuel financing.
The earth is at a critical junction for whether it will survive, and since there is no Earth 2 we ALL must do everything we can to protect it. Please join us and get on board for the sake of future generations.
Between 2020 and 2022, the G7 provided at least USD 73 billion in public finance support to fossil fuel projects, almost 2.6 times more than their support for clean energy over the same period.
Japan, Germany, and Italy have not yet delivered on their climate commitments from last year’s G7 summit to end new direct public support for the international unabated fossil fuel energy sector.
Japan’s new “Green Transformation” energy strategy is an exercise in greenwashing designed to benefit Japanese corporate interests, not Asia. The policy relies heavily on fossil fuel-based technologies instead of renewable energy solutions.
Canada, the United Kingdom, and France have met their commitments and now have policies in place that restrict their fossil fuel financing.
finance data for 2022 and shows that not only investments in new fossil fuel infrastructure are incompatible with meeting climate goals, but also that they are not needed for energy security and development goals
G7 has the opportunity to accelerate the energy transition by delivering on their commitment to end international public finance for fossil fuels, and by committing to a managed phase-out of fossil fuel production alongside a rapid scale-up of clean energy solutions on a timeline compatible with limiting warming to 1.5 degrees Celsius (°C).
However, as this year’s G7 host, Japan is undermining this potential progress by pushing for increased gas finance, ammonia co-firing and other fossil-based technologies that will expand the use of fossils and undercut meaningful climate action at the G7.
Please go green!!!
No more international fossil financing.
Let’s go! Not a minute to waist…
I think by now we have all experienced climate change in our weather. It’s awful and it’s going to get much worse faster and faster. If you care more for money, and making life easier than living up to a strong commitment to climate change, then please know that the money and pleasing ability you seek are about to get radically slimmer and slimmer.
Please stand up and fight for our future, even when others don’t. We need leaders!!! End fossil fuel finance. Now.
SHOW YOUR COMMITMENT TO IRRADICATING FOSSIL FUELS AS YOU PROMISED PLEASE!
THANK YOU
It’s time to get real. “Developing” the rest of the world with fossil fuels is a recipe for disaster.
What a marvelous opportunity you have: You can shift tons of support to renewable energy &, thus, save us from tons of climate crisis CO2.
Use your opportunity to help save our planet.