Today the United States and over 20 other countries and institutions from both developed and developing countries committed to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance.
Coal
CSOs welcome historic 20+ country-strong commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow
Today at COP26, more than 20 countries and institutions launched a joint statement committing to end direct international public finance for coal, oil and gas by the end of 2022 and prioritize clean energy finance. This initiative could directly shift more than USD 18 billion a year of support out of fossil fuels and into clean energy.
New OECD coal financing restrictions represent weak progress
Today the OECD Export Credit Group announced new restrictions on its support for overseas coal projects. The restrictions do not address export finance for coal mines and related infrastructure, nor oil and gas financing even if the latest IEA report shows that investments in new fossil fuel production need to end this year to limit warming to 1.5°C.
The Sky’s Limit Africa: The Case for a Just Energy Transition from Fossil Fuel Production in Africa
The Sky’s Limit Africa assesses fossil fuel industry plans to sink USD $230 billion into the development of new extraction projects in Africa in the next decade — and USD $1.4 trillion by 2050. It finds these projects are not compatible with a safe climate future and that they are at risk of becoming stranded assets that leave behind unfunded clean-up, shortfalls of government revenue, and overnight job losses.
Statement: CSOs call on world leaders to end public finance for fossil fuels in 2021
One day before world leaders meet to discuss the energy transition at the United Nations High Level Dialogue on Energy, more than 200 civil society organizations (CSOs) from over 40 countries have released a statement calling on world leaders to end international public finance for coal, oil and gas.
New Report: Indigenous Resistance Disrupts Billions of Tons of Greenhouse Gas Emissions Annually
The new report shows that Indigenous communities resisting the more than 20 fossil fuel projects analyzed have stopped or delayed greenhouse gas pollution equivalent to at least 25 percent of annual U.S. and Canadian emissions.
Inspirational colleague, Kimiko Hirata, wins Goldman Prize for campaigns to end Japan’s addiction to coal
“Kimiko’s courage and leadership in undertaking pathbreaking actions to influence Japan and address the climate crisis are an inspiration,” said Susanne Wong, senior campaigner with Oil Change International and facilitator of the No Coal Japan coalition.
Sorry, API, Gas Isn’t Why Emissions Are Down
The API claims gas is the main reason US power sector emissions are down. Our latest analysis shows it’s not.
Nearly 450 Organizations Call on Biden Administration to End Public Finance for Fossil Fuels
Over 400 organizations from 50 countries signing onto a new letter called on the Joe Biden administration to immediately end all U.S. public financing for fossil fuels, including natural gas.
EU foreign ministers commit to push for end to fossil fuel subsidies and finance; pressure builds on United States to follow suit
“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.