Italy breaks climate promise to end public financing for international fossil fuel projects, publishing ‘worst-in-class’ climate policy

March 21, 2023By Valentina StacklPress Releases, Stop Funding Fossils No Comments

Italy breaks climate promise to end public financing for international fossil fuel projects, publishing ‘worst-in-class’ climate policy Italy publishes policy that continues investments in new fossil fuel projects, breaking commitment made at 2021 UN COP26 climate summit. Policy denies climate science and fossil fuel phase-out trajectories presented by the IPCC on the same day Civil … Read More

New report: Commitment to end international finance for fossil fuels is shifting billions, but key countries breaking promises missing in action

March 15, 2023By OCI TeamBlog Post, Press Releases, Stop Funding Fossils No Comments

Promise Breakers, a report released today by Oil Change International, reveals that the stop funding fossils commitment forged at COP26, is already shifting an estimated USD 5.7 billion per year out of fossil fuels and into clean energy, with the potential of a further 13.7 billion per year if all signatories fulfill their commitments.

Promise Breakers: Assessing the impact of compliance with the Glasgow Statement commitment to end international public finance for fossil fuels

March 15, 2023By OCI TeamFeatured, Reports, Resources, Stop Funding Fossils 6 Comments

New research shows stop funding fossils commitment forged at the 2021 UN climate summit is already shifting an estimated USD 5.7 billion per year out of fossil fuels and into clean energy. If all signatories fulfill their commitments, then a further 13.7 billion per year will be shifted out of fossil fuels and into clean energy.

OECD fails to make progress on aligning with 1.5°C, stalling urgent climate action for over 6 months

March 14, 2023By Nina PusicPress Releases, Stop Funding Fossils No Comments

FOR IMMEDIATE RELEASE  March 14, 2023 Contact: Nina Pusic, nina@priceofoil.org  OECD fails to make progress on aligning with 1.5°C, stalling urgent climate action for over 6 months  Last week, OECD countries failed to conclude negotiations on climate friendly incentives to align Export Credit Agencies, the world’s largest international financiers of fossil fuels, with international climate … Read More