The IEA's new 1.5°C-aligned scenario finds “no need for investment in new fossil fuel supply.” This represents a break from past IEA reports that boosted new oil and gas development by focusing on scenarios that steered the world towards catastrophic levels of warming. This is a big step in the right direction.

Yesterday, the Spanish Parliament adopted a wide-ranging Climate Change and Energy Transition law, which includes a ban on new fossil fuel exploration and production licenses.

National organizations are demanding President Joe Biden appoint a strong climate leader as Federal Reserve Chair who will implement policies and rules at the scale needed to address the climate crisis.

The Asian Development Bank issued its draft energy policy on Friday following the conclusion of its 54th Annual Meeting and clarion calls from the United Nations to end financing for all fossil fuels including gas. This first draft has ruled out financing for coal but allows for continued gas finance which dominates the ADB’s fossil fuel lending.

A new legal opinion lays out the international law obligations of ECAs that are responsible for tens of billions of dollars per year in support for fossil fuels.