Last week, civil society advocates from across the world convened outside the Washington DC headquarters of the World Bank to protest the Bank’s highly controversial financing of deadly fossil fuel projects.
From 2010-2021, the United States’ trade and development finance institutions provided nearly five times as much support to fossil fuels as to renewables — over $51.6 billion for fossils compared to just $10.9 billion for renewables.
Since May 2021, Shell has expressed interest to develop ten new oil and gas extraction assets, which could lock in additional CO2 pollution (325 million metric tonnes) two times greater than the Netherlands’ total CO2 emissions in 2021.
Despite the ongoing climate crisis, Shell continues to develop new oil and gas assets. Since the Dutch court ruling in May 2021, Shell has made definitive investments in 10 assets, which once burned will result in 325 million metric tonnes of CO2 emissions. Shell also co-owns more than 750 untapped oil and gas assets, which would amount to 4.3 billion metric tonnes of extra CO2 emissions, 30 times more than the total emissions from the Netherlands in 2021.
Today is a major defeat for the Manchin and American Petroleum Institute-approved bill which would have fast-tracked the Mountain Valley Pipeline and other fossil fuel projects.
Approving new gas pipelines and liquified natural gas export facilities would lead to hundreds of millions of tons of carbon dioxide equivalent per year for decades to come.
France fulfils commitment made at 2021 UN Climate Conference, ending almost all government-backed financing for international fossil fuel projects.
“All Congress members should speak out publicly to stand with frontline communities and reject Joe Manchin’s dirty deal,” said Collin Rees.
More than 650 climate, environmental justice, public health, youth, and progressive organizations sent a letter opposing the fossil fuel ‘side deal’ being advanced by Senators Joe Manchin and Chuck Schumer.
“The Inflation Reduction Act has come at a tremendously high price that will be disproportionately paid by Black, Indigenous, family farming, people of the global majority, and working-class communities. We cannot afford additional giveaways to the fossil fuel industry in a deal that Democratic Leaders negotiated with Senator Manchin.”