This increases the number of signatories to 30 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 23.6 billion per year. This equals 37% of annual public finance for fossil fuels provided by G20 countries and the Multilateral Development Banks (MDBs) between 2018 and 2020.
This increases the number of signatories to 29 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 21.7 billion per year.
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.
New analysis details why a just energy transition in Africa requires an end to new oil, gas, and coal extraction projects
“We urge Congress to end fossil fuel subsidies, and we expect Leader Schumer and Chairman Wyden to stand by their promises to end dirty subsidies to oil, gas, and coal,” said Collin Rees of Oil Change.
The Biden White House released a statement from National Security Advisor Jake Sullivan urging OPEC to increase oil production; Oil Change International experts responded.
More than 500 organizations called on policymakers in the U.S. and Canada to reject Carbon Capture and Storage (CCS) as a dangerous distraction and to end the “carbon capture of climate policy.”
Over 500 organizations, including a wide range of health, faith, environmental, and other groups across the United States released a letter today calling on Congressional leadership to eliminate the fossil fuel subsidies embedded in the U.S. tax code.
Over 500 groups released an open letter being sent to U.S. House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, urging them to end fossil fuel subsidies.
Five decades on from the first CCS project, the technology remains riddled with problems, unproven at scale, and not fit for purpose. It is beyond time to focus on the real solutions to the climate crisis and injustice that the fossil fuel industry has wrought. Neither CO2-rich gas or LNG qualify.