Asia is one of the few remaining growth markets for gas. The fossil fuel industry and its proponents are pushing to develop $379 billion of gas terminals, pipelines and power plants in Asia over the next decade. Roughly three-quarters of all Liquified Natural Gas (LNG) import terminals in development globally are planned for Asia. This aggressive buildout ignores a simple truth.

The new report finds that wealthy nations — the United States, United Kingdom, Canada, Norway, and Australia — planning to approve and subsidize new fossil fuel projects which undermines their recent claims of leadership in addressing the climate crisis.

The assessment by Environmental Defence Canada and Oil Change International assesses eight of Canada’s top oil and gas producers, including Imperial (ExxonMobil) and Shell. It finds they are all on track to increase their oil and gas production in Canada, rather than planning a fair transition away from fossil fuels that are fuelling the climate crisis.

Our new report “Past Last Call: G20 public finance institutions are still bankrolling fossil fuels” looks at G20 country and MDB public finance for fossil fuels from 2018-2020 for the first time and finds they are still backing at least USD 63 billion per year in oil, gas, and coal projects.