“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,â said O’Manique.
Blog Post
G20 public money enabled 82% of LNG export infrastructure expansion, breaking climate promises
Government-backed LNG projects are exposing the public to stranded asset risks and causing emissions nearly twice the annual emissions of Canada.
Explainer: Latest data shows the World Bank Group and its peers are still locking in a fossil future
Ahead of the 2023 World Bank Spring meetings, we have compiled the major MDBs’ 2022 energy finance data for the first time.
As Biden expands Gulf of Mexico drilling, new research finds it has significantly greater climatic impact than previously thought
A new scientific paper, published yesterday in the PNAS, the Proceedings of the National Academy of Sciences, has concluded that government inventories of methane and carbon dioxide significantly underestimate the amount of gases which are released in the Gulf of Mexico from oil and gas operations.
OECD risks labeling gas and other fossil-based technologies climate-friendly
The OECD has adopted a new list of âclimate-friendlyâ projects that will benefit from preferential financial terms for export support. But a number of projects are poorly defined, potentially allowing for preferential financial incentives for export credit agency investments in gas.
Climate crisis: Is it time to charge Big Oil with homicide?
A new academic study, accepted for publication in Harvard Environmental Law, asks the pertinent question about Big Oil and climate change: âGiven the extreme lethality of the conduct and the awareness of the catastrophic risk on the part of fossil fuel companies, should they be charged with homicide?â
As IPCC demands urgent climate action, Pacific nations step up, but Italy and UK reach new lows as rogue climate states
Yesterday, the message from the worldâs leading climate scientists was their most brutal and stark yet. It was unequivocal.
Italy breaks climate promise to end public financing for international fossil fuel projects, publishing âworst-in-classâ climate policy
Italyâs 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.
Response: IPCC’s Report Raises the Alarms to Code Red
“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.
Last Chance Alliance: California Issues Hundreds of Neighborhood Oil Drilling Permits in Blow to Environmental Justice
Climate justice advocates expressed outrage at California state oil regulator CalGEM over the recent approval of hundreds of oil and gas rework permits to continue dangerous oil operations within 3,200 feet of communities.