Public Finance for Energy Database tracks all energy-related transactions from G20 bilateral development finance institutions (DFIs), G20 export credit agencies (ECAs), and the major multilateral development banks (MDBs). This includes 14,000 transactions going back as far as 2008 and totaling nearly $2 trillion.
In this new report we consider recovery commitments and pre-pandemic policies to rank G20 countries’ progress in phasing out support to fossil fuels. We find at least USD 584 billion per year between 2017 and 2019 in public support for fossil fuels from G20 governments.
A new analysis finds that six major multilateral development banks provided over $7 billion in public financing for fossil fuels in 2015, and over $83 billion in financing for fossil fuels from 2008 to 2015, despite public claims of the urgent need for action on climate.
Each year, federal and provincial governments pay billions in hand-outs to Canada’s coal, oil and gas companies, undermining both existing and proposed climate action in Canada.
An update to our previous reports on international coal finance, this report confirms that financing for coal threatens to undermine the Paris Agreement’s aims.
A handful of wealthy countries are still funding fossil fuels instead of climate action, giving 3.6 times more public money to prop up fossil fuels than they’re giving to developing countries to address climate change.
Over the past week, virtually every article on the President’s trip to Alaska to highlight the impacts of climate change, has in the next breath mentioned the President’s approval of Shell’s arctic drilling. The allegation made vocally by the environmental community is that these two things are deeply contradictory, and blatantly hypocritical. It’s an allegation … Read More
A graphic published today by Oil Change International shows the carbon left in the ground in cancelled tar sands projects and the potential impact of continued action to stop tar sands pipelines.
World Bank Group finance for projects that included fossil fuel exploration was highest in FY2013, at nearly $1 billion out of $2.7 billion total for fossil fuel projects in 2013.
In 2009, President Obama made a commitment to reduce U.S. greenhouse gases by 17 percent by 2020. The Obama administration put this forward as the U.S. share of a global effort to limit climate change to no more than two degrees Celsius – the target scientists tell us may be safe. Achieving this target, which … Read More