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.

Despite the ongoing climate crisis, Shell continues to develop new oil and gas assets. Since the Dutch court ruling in May 2021, Shell has made definitive investments in 10 assets, which once burned will result in 325 million metric tonnes of CO2 emissions. Shell also co-owns more than 750 untapped oil and gas assets, which would amount to 4.3 billion metric tonnes of extra CO2 emissions, 30 times more than the total emissions from the Netherlands in 2021.

Today, a month before ministers from Export Finance for Future (E3F) countries gather to discuss progress on aligning their export finance with climate objectives, CSOs are sending letters to urge E3F members to deliver on their stop funding fossils pledge. 

Today is a major defeat for the Manchin and American Petroleum Institute-approved bill which would have fast-tracked the Mountain Valley Pipeline and other fossil fuel projects.

France fulfils commitment made at 2021 UN Climate Conference, ending almost all government-backed financing for international fossil fuel projects.