New briefing: Japan is the world’s largest provider of public finance for fossil fuels, spending 10.6 billion USD a year

November 8, 2022By OCI TeamFeatured, Press Releases No Comments

FOR IMMEDIATE RELEASE November 8, 2022 Contacts: Makiko Arima — makiko@priceofoil.org (AEST) Susanne Wong — susanne@priceofoil.org (CEST) New briefing: Japan is the world’s largest provider of public finance for fossil fuels, spending 10.6 billion USD a year Briefing highlights that Japan’s support for oil, gas and coal is fueling the climate crisis, undermining energy security and harming … Read More

New Report: International public finance for fossil fuels dropped in 2021, but a rebound is likely unless key governments deliver on pledges

November 1, 2022By OCI TeamFeatured, Press Releases

A report released today by Oil Change International and Friends of the Earth U.S. reveals that between 2019 and 2021 the G20 countries and multilateral development banks (MDBs) provided at least USD 55 billion per year in international public finance for fossil fuels. This is a 35% drop compared to previous years (2016-2018), but still almost twice the support provided for clean energy, which averaged only $29 billion per year.

CSOs say E3F countries need to act with urgency and integrity to meet commitments to end export finance for fossil fuels

November 24, 2021By LauriePress Releases, Stop Funding Fossils

The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas – as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.