Russia’s war in Ukraine and fuel price spikes mean international public finance institutions must roll out rapid decarbonization and aid packages, not back track by locking in new fossil infrastructure.

"The EU's new international energy strategy is woefully inadequate and would lock in decades' more extraction of deadly gas and oil," said Collin Rees.

A new peer-reviewed study published in Environmental Research Letters finds that existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C. The study, led by researchers at Oil Change International and the International Institute for Sustainable Development, finds that nearly 40% of developed fossil fuel reserves need to stay in the ground to keep the 1.5°C limit in reach.

"Congress must crack down on Big Oil's insatiable greed by taxing these windfall profits and moving the United States and the world to renewable energy as quickly as possible," said Collin Rees.

"The only effective response to today’s compounding crises is for global leaders to support the efficiency and clean energy solutions that can replace these dirty fuels and eliminate the need for any new LNG infrastructure," said Laurie van der Burg.