Policy falls short of a major pledge Spain made at the 2021 COP26 UN climate summit to stop financing fossil fuel projects.
UAE announces head of national oil company to lead COP28 climate talks, endangering climate goals civil society warns
Today, the United Arab Emirates launched its COP28 presidency and placed the chief of the Abu Dhabi National Oil Company (ADNOC) at the head of this year’s climate talks, amid deep civil society apprehension of this major conflict of interest.
Oil Change International experts respond to COP27: Lack of progress on fossil fuels mars key steps on loss and damage
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.
New briefing: Oil and gas industry on brink of major surge in expansion – new drilling plans approved through 2025 could exhaust 17% of the global carbon budget for 1.5°C
The new briefing, titled ”Investing in Disaster”, exposes the countries and companies that have approved the most new oil and gas extraction in 2022, and that could be responsible for major expansion through 2025.
Japan’s Dirty Secret: World’s top fossil fuel financier is fueling climate chaos and undermining energy security
This briefing, “Japan’s Dirty Secret: World’s top fossil fuel financier is fueling climate chaos and undermining energy security,” reveals that Japan is the world’s largest public financier of fossil fuel projects, providing 10.6 billion USD per year between 2019 and 2021. Japan has been leading the drive to expand gas consumption in Asia and is the world’s leading financier of gas infrastructure globally, spending USD 6.7 billion on gas projects on average each year between 2019 and 2021.
New briefing: Japan is the world’s largest provider of public finance for fossil fuels, spending 10.6 billion USD a year
FOR IMMEDIATE RELEASE November 8, 2022 Contacts: Makiko Arima — email@example.com (AEST) Susanne Wong — firstname.lastname@example.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
“We’re not in an energy crisis, we’re in a fossil fuel crisis” — advocates discuss fossil fuels at onset of COP27
“Make no mistake — the fossil gas agenda is a neocolonial agenda and patriarchal one. Fossil gas will not provide ‘energy security’ in Africa or anywhere else.” –Lorraine Chiponda
New Report: International public finance for fossil fuels dropped in 2021, but a rebound is likely unless key governments deliver on pledges
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.
At a Crossroads: Assessing G20 and MDB international energy finance ahead of stop funding fossils pledge deadline
This report looks at G20 country and MDB traceable international public finance for fossil fuels from 2019-2021 and finds they are still backing at least USD 55 billion per year in oil, gas, and coal projects. 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 that Export Finance for Future (E3F) countries must deliver on pledge to stop funding fossil fuels
Today, a month before ministers from Export Finance for Future (E3F) countries gather to discuss progress on aligning their export finance with climate objectives, CSOs are sending letters to urge E3F members to deliver on their stop funding fossils pledge.