Policy falls short of a major pledge Spain made at the 2021 COP26 UN climate summit to stop financing fossil fuel projects.
In a landmark decision, the Federal Court of Australia ruled that Santos Ltd, one of the world’s top 20 largest oil and gas companies, would not be allowed to drill in the Barossa gas fields off the coast of northern Australia, solidifying legal victory for the Tiwi Islander Plaintiffs.
Aotearoa New Zealand has released a new policy to live up to its 2021 COP26 UN climate summit commitment to end international finance for fossil fuels, including oil and gas, by the end of 2022.
New figures show that despite pledging to end its international public finance for fossil fuels by the end of 2022, the German Government is considering finance for ten major fossil fuel projects located all over the world.
At COP27, with just a month to go until the deadline, attendees called on countries to keep their Glasgow Statement pledge to stop public finance for fossil fuels.
Rather than building momentum towards COP27 through delivering strong policies and a harmonized approach to implementing the collective promise to end international public finance for fossil fuels by the end of 2022, the Summit was overshadowed by backsliding.
A week before the international climate summit in Egypt, the Dutch Government breaks a major climate promise it made last year to end public financing for international fossil fuel projects.
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.
Campaigners around the world take action to urge leaders to deliver on their pledge to fully shift international public finance from fossil fuels to clean energy ahead of the COP27 deadline.
With just a month left for leaders to keep their #StopFundingFossils promise, this briefing shows that while a number of signatories are on track or getting on track to put an end to their financing for fossil fuel projects abroad by the end of this year, others are dragging their feet.