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.
Briefings
Leaders & Laggards: Tracking implementation of the COP26 commitment to end international public finance for fossil fuels by the end of 2022
At the UN COP26 climate conference, signatories of the Glasgow Statement agreed to international public finance for fossil fuels. This briefing, which will be updated regularly as new policies come out and new signatories join the commitment, tracks implementation efforts and assesses whether countries are on track to keep their promise.
Shell’s Fossil Fuel Production: Still Pushing The World Towards Climate Chaos
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.
Manchin’s Bill Could Wipe Out Climate Gains by Fast-Tracking 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.
From Creation to Delivery: How the Beyond Oil and Gas Alliance and its members can catalyze climate action in an era of energy upheaval and escalating climate impacts
This paper outlines priorities for the Beyond Oil and Gas Alliance (BOGA) and its members that were identified by civil society groups to turn what has remained a largely aspirational diplomatic initiative into a force for increased climate action in line with equity, justice, and science.
Companies set to make £11.6 billion windfall on UK oil and gas in 2022
This briefing shows that companies are set to make £11.6 billion windfall on UK oil and gas in 2022 and why the UK government is missing this opportunity to fund an energy transition.
Using international public finance to unlock a just transition: key trends and opportunities
This briefing explains why financial flows to fossil fuels matter and how to use the data provided by the Public Finance for Energy Database to help secure a just energy transition.
U.S. Oil and Gas Companies Set to Make Tens of Billions More from Wartime Oil Prices in 2022
With oil prices rising to near-record levels due to Russia’s ongoing war in Ukraine, companies producing oil and gas in the United States are in line to make tens of billions in additional profits. Under conservative estimates, we find the U.S. upstream oil and gas industry will collect a windfall of $37 to $126 billion in 2022 alone.
European and U.S. Energy Companies are Responsible for Nearly USD 100 Billion to Putin’s War Chest Since Crimea Invasion
New analysis finds that revenues from oil and gas projects backed by European and U.S. companies have fueled Vladimir Putin’s regime to the tune of nearly USD 100 billion since 2014.
Zeroing In: A guide for the finance sector on the IEA’s Net Zero Emissions scenario and its implications for oil and gas finance
This briefing gives financial institutions an overview of the IEA’s first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA’s conclusion about ending new oil and gas field development is not a product of scenario design; it’s the arithmetic of 1.5°C.