There have been few concrete developments on the G7-led ‘evolution roadmap’ and a new Paris Alignment ‘sector note on energy and extractives’ keeps all existing pathways for WBG fossil gas support open.
Today, ahead of the G7 Climate, Energy and Environment Ministerial meeting this weekend in Japan, the International Energy Agency (IEA)released analyses to inform the G7 energy agenda, including on the outlook for fossil gas.
As G7 Climate, Energy and Environment Ministers prepare to meet in Japan, two new briefings launched today show the extent to which G7 countries are succeeding and failing in holding up their climate and energy security commitments.
“The World Bank cannot be effective on climate action until it stops adding fuel to the fire. We’ll be looking to shareholders and Bank leadership to make serious commitments to stop all forms of support for fossil fuels,” said O’Manique.
Italy’s far right government has broken a major climate pledge to end public financing for international fossil fuel projects, instead producing the worst policy among countries that signed the 2021 commitment.
“The UN Secretary-General’s response to the IPCC report makes it clear that the time when countries can pretend to be climate leaders while expanding oil and gas production is over,” said Romain Ioualalen.