Today the Council of the European Union will approve a statement that commits all Member States to end international public finance in the form of export credits for projects in the fossil fuel energy sector.
The Danish Government just announced the cancellation of the 8th North Sea licensing round, a ban on future offshore licencing (following an onshore ban in 2018), and a ban on all offshore production by 2050. Hannah McKinnon of Oil Change International responded as follows.
In the coming days, weeks, and months Oil Change will work to build on our wins and hold the Biden Administration to account, just like we did with Trump and Obama before. We will be pushing for a radical just transition away from fossil fuels.
Despite repeated pledges to end inefficient fossil fuel subsidies, G20 governments’ support to fossil fuels has dropped by only 9% since 2014–2016, hitting USD 584 billion annually over the last three years, according to a report released today by the International Institute for Sustainable Development (IISD), the Overseas Development Institute (ODI), and Oil Change International (OCI).
Today, the French government outlined new measures aimed at greening the country’s export credit support policy. Under the proposed new policy, France will continue supporting fossil fuel projects worldwide until at least 2035. OCI urges the French government to reconsider this end date as it is grossly misaligned with the Paris Agreement.
People all over the world are facing unprecedented crises from COVID-19. These tragic impacts will be the deepest in the world’s most vulnerable communities, regions and countries. IEA director Dr. Fatih Birol has urged governments worldwide to place clean energy at the heart of stimulus. Here Dr. Birol is right – but making this clean energy call count with real ambition is critical if the IEA wants to shake its reputation as a shill for the fossil fuel sector.
The European Investment Bank (EIB) is the world’s largest multilateral lender, bigger even than the World Bank. As a public bank, it’s tasked with providing finance in the EU public interest, and it has an outsized influence on the EU’s energy system because of the private investment it can “crowd in” and the sheer amount of money it has at its disposal.
Minnesota’s new bill, which would stop the buildout of fossil fuel infrastructure, is a critical piece of the overall Green New Deal puzzle – in order to address climate climate crisis, we must be actively winding down the fossil fuel industry by stopping its expansion and phasing out existing infrastructure with an equitable transition.
As Washington continues to digest the explosive revelations in the book Fire and Fury about the chaotic and dysfunctional White House and whether the President is mentally fit for office, the Trump Administration continues its full-frontal assault on the environment.
The news this week that President-elect Trump had met ex-Vice President Al Gore to discuss climate change had some of the mainstream media speculating that this might mean that the climate denying, oil-loving, conspiracy-peddling President-to-be might be changing his view on global warming.