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fossil finance

Response: Malpass departure must be the start of a fossil free World Bank

February 15, 2023By Bronwen TuckerBlog Post, News, Press Releases, Stop Funding Fossils

“Despite Malpass’s departure, the World Bank Group still funds more fossil fuels than any other multilateral development bank. Ending this support must be top priority ahead of the Bank’s Spring Meetings,” said Tucker.

Oil Change International experts respond to COP27: Lack of progress on fossil fuels mars key steps on loss and damage

November 20, 2022By Collin ReesBlog Post, News, Press Releases

Despite important progress on establishing a loss and damage fund, COP27 failed to acknowledge the need for a rapid and equitable phase-out of oil, gas, and coal.

Germany Fails to Lead at E3F Summit and Threatens Decades of Fossil Fuel Lock-In

November 4, 2022By LauriePress Releases, Stop Funding Fossils

Rather than building momentum towards COP27 through delivering strong policies and a harmonized approach to implementing the collective promise to end international public finance for fossil fuels by the end of 2022, the Summit was overshadowed by backsliding.

Pressure grows on World Bank boss to quit over funding of climate chaos

October 17, 2022By Andy RowellBlog Post, News, Stop Funding Fossils

Last week, civil society advocates from across the world convened outside the Washington DC headquarters of the World Bank to protest the Bank’s highly controversial financing of deadly fossil fuel projects.

Release the Guidance: Backgrounder on U.S. International Energy Finance ahead of COP27 Deadline

October 7, 2022By Collin ReesBlog Post, Briefings, Featured, News

From 2010-2021, the United States’ trade and development finance institutions provided nearly five times as much support to fossil fuels as to renewables — over $51.6 billion for fossils compared to just $10.9 billion for renewables.

Activists pressure governments to keep their promise to end public fossil finance ahead of COP27 deadline

October 7, 2022By OCI TeamPress Releases, Stop Funding Fossils 2 Comments

Campaigners around the world take action to urge leaders to deliver on their pledge to fully shift international public finance from fossil fuels to clean energy ahead of the COP27 deadline.

Leaders & Laggards: Tracking implementation of the COP26 commitment to end international public finance for fossil fuels by the end of 2022

October 7, 2022By OCI TeamBriefings, Stop Funding Fossils

With just a month left for leaders to keep their #StopFundingFossils promise, this briefing shows that while a number of signatories are on track or getting on track to put an end to their financing for fossil fuel projects abroad by the end of this year, others are dragging their feet. 

New research: E3F countries need to shift their EUR 20 billion in export finance for fossil fuels to renewables

November 22, 2021By LaurieFossil Gas, Press Releases, Stop Funding Fossils 1 Comment

A policy brief released today by OCI and ODI shows that despite their commitment to align financial flows with climate goals under the Paris Agreement adopted in 2015, the E3F countries still provided €20 billion in export finance for fossil fuel projects abroad between 2018 and 2020.

New report exposes five wealthy countries whose fossil fuel production threatens chance at 1.5ºC

November 12, 2021By Collin ReesBlog Post, News, Press Releases, Stopping Carbon Lock-In

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 Fossil Fuelled Five: Comparing Rhetoric with Reality on Fossil Fuels and Climate Change

November 12, 2021By Collin ReesFeatured, Reports, Stopping Carbon Lock-In

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.

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