The OECD has adopted a new list of “climate-friendly” projects that will benefit from preferential financial terms for export support. But a number of projects are poorly defined, potentially allowing for preferential financial incentives for export credit agency investments in gas.

The Netherlands just contradicted its COP26 pledge to end public finance for fossil fuels by the end of 2022 and shift this money to clean energy by issuing a commitment to insure the Brazil Santos Basin Pre-Salt Pole oil and gas production project for around USD 321 million.

Italy’s far right government has broken a major climate pledge to end public financing for international fossil fuel projects, instead producing the worst policy among countries that signed the 2021 commitment.

"The UN Secretary-General's response to the IPCC report makes it clear that the time when countries can pretend to be climate leaders while expanding oil and gas production is over," said Romain Ioualalen.

Climate justice advocates expressed outrage at California state oil regulator CalGEM over the recent approval of hundreds of oil and gas rework permits to continue dangerous oil operations within 3,200 feet of communities.