“The science could not be more clear: there is no room for a single drop of oil from new fields. In our recent report “Planet Wreckers” we showed how the UK is one of the five rich Global North countries responsible for 51% of planned new oil and gas extraction globally to 2050, and blatantly ignoring the calls to rapidly phase out fossil fuels. The fact that the UK Government has approved the biggest undeveloped field in the UK, and coming just one week after the Government’s weakening of its net zero policies, is proof positive it is siding with oil and gas giants over a liveable future for all.”
Author: nicole
Dutch Climate and Energy Minister estimates NL’s fossil fuel subsidies at up to €46.4 billion a year, campaigners call for phase-out plan
Today the outgoing Dutch Minister for Climate and Energy Policy, Rob Jetten, published an analysis of the Netherlands’ fossil fuel subsidies, estimating these at between €39.7 and €46.4 billion a year, more than 4% of the Netherlands’ GDP.
Planet Wreckers: How Countries’ Oil and Gas Extraction Plans Risk Locking in Climate Chaos
New Oil Change International research shows that only 20 countries, led overwhelmingly by the United States, are responsible for nearly 90 percent of the carbon-dioxide (CO2) pollution threatened by new oil and gas fields and fracking wells planned between 2023 and 2050. If this oil and gas expansion is allowed to proceed, it would lock in climate chaos and an unlivable future.
New Research Exposes 5 Global North Countries Responsible for 51% of Planned Oil and Gas Expansion Through 2050
Analysis shows just 20 countries are responsible for nearly 90% of carbon dioxide pollution threatened by new oil and gas extraction projects between 2023 and 2050 — with top ‘climate hypocrites’ the United States, Canada, Australia, Norway, and the United Kingdom accounting for a majority. If these 20 Planet Wreckers followed the call from UN Secretary General Guterres to stop new oil and gas fields and licensing, the equivalent to the lifetime carbon pollution of 1,100 new coal plants would be kept in the ground.
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.
New study estimates The Netherlands’ fossil fuel subsidies at €37.5 billion per year, despite long-standing promises to end this support.
Never before has there been such a detailed, peer-reviewed mapping of fossil fuel subsidies in the Netherlands. The report identifies 31 fossil fuel subsidies that, combined, provide €37.5 billion per year in fossil fuel subsidies between 2020 and 2022.
EXIM under Biden risks repeating mistakes of Obama in supporting Papua LNG
Today, 27 environmental and civil society organizations from Papua New Guinea, the Asia Pacific region and the United States submitted a letter to the U.S. Export-Import Bank (EXIM) urging it to oppose support for the Category A Papua liquefied natural gas project.Â
New German climate policy will continue multi-billion overseas fossil fuel finance and break major international climate promise
The German Government is set to break a major international climate commitment, releasing a draft policy today for Euler Hermes, the German export credit agency, which allows the agency’s huge international fossil fuel financing to continue.
Canada’s new fossil fuel subsidy framework contradicts own international policy
Rather than match the international policy, today’s announcement leaves the door open indefinitely to domestic public finance for oil and gas, only committing to “announce by fall 2024 the implementation plan” to phase out these flows.