In a new paper published today, Oil Change International (OCI) and Reclaim Finance analyze the shortcomings of the climate scenarios published by the NGFS and highlight the risk that they may be used to justify slow and inadequate climate action by financial actors.

"Ending international public finance for fossil fuels would be a huge boost to climate action globally. The administration must now invest serious effort and diplomatic capacity to secure this shift in international finance away from oil, gas, and coal."

"Today's move by President Biden to freeze leasing for oil and gas production on federal lands and waters is a critical first step to ending this program once and for all."

Environmental justice, Indigenous, and climate groups from announced today that they have delivered millions of petitions and letters from hundreds of organizations supporting a halt on new fossil fuel leasing and permitting on public lands and oceans.

"Ending government support for fossil fuels is a no-brainer. Globally, governments are still propping up fossil fuels with huge sums of public money, behaviour that is incompatible with keeping global warming below 1.5ºC," said Laurie van der Burg.