CSOs say E3F countries need to act with urgency and integrity to meet commitments to end export finance for fossil fuels

November 24, 2021By LauriePress Releases, Stop Funding Fossils No Comments

The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas – as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.

Spain joins commitment to end international oil, gas, and coal finance, bringing total for potential finance shifted to USD 23.6 billion per year 

November 10, 2021By LaurieBlog Post, News, Press Releases, Stop Funding Fossils No Comments

This increases the number of signatories to 30 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 23.6 billion per year. This equals 37% of annual public finance for fossil fuels provided by G20 countries and the Multilateral Development Banks (MDBs) between 2018 and 2020. 

Netherlands joins commitment to end international oil, gas, and coal finance, leaving Germany and France lagging behind

November 8, 2021By LaurieBlog Post, News, Press Releases, Stop Funding Fossils 1 Comment

Last Thursday on November 4, 25 countries and institutions committed to end international public finance for unabated oil, gas, and coal by the end of 2022 at the United Nations climate conference in Scotland (COP26). Today, the Netherlands has confirmed that it will also join the initiative.

CSOs welcome historic 20+ country-strong commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow

November 4, 2021By LaurieBlog Post, News, Press Releases, Stop Funding Fossils

Today at COP26, more than 20 countries and institutions launched a joint statement committing to end direct international public finance for coal, oil and gas by the end of 2022 and prioritize clean energy finance. This initiative could directly shift more than USD 18 billion a year of support out of fossil fuels and into clean energy.