GLOBAL POLICY

The Paris climate goals demand a rapid, just transition from fossil fuels to clean energy. We’re pushing governments to lead the way by adopting policies to end oil and gas production.

OVERVIEW OF WORK

In order to achieve climate goals, governments and other decision makers must support a just and equitable move away from fossil fuels. We are pushing for precedent-setting leadership from governments to put policies in place to manage the decline of oil and gas and ensure a just transition for fossil-fuel dependent workers and communities.

Building from a growing group of first mover governments, we are pressuring for increasing numbers of national and regional governments to end new licenses and permits for oil and gas production, and to develop plans to wind down their existing production over time.

LATEST PROGRAM POSTS
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LATEST PROGRAM RESEARCH

Between 2016, following the adoption of the Paris Climate Agreement, and June 2021, public and private financial institutions poured at least $132 billion in lending and underwriting into 964 gas, oil and coal projects in West, East, Central and Southern Africa. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public institutions such as development banks and Export Credit Agencies.

This briefing gives financial institutions an overview of the IEA's first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA's conclusion about ending new oil and gas field development is not a product of scenario design; it’s the arithmetic of 1.5°C.

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