“G7 countries must turn words into action and develop a detailed roadmap for phasing out fossil fuel subsidies by 2025. For Canada, this responsibility ultimately lies with Environment and Clean Growth Minister Catherine McKenna and Finance Minister Bill Morneau,” said experts from the #StopFundingFossils coalition.
G7
Trump to Miss G7 “Working Together on Climate Change” Session
Even before the G7 meeting – or G6 plus one meeting in Canada – the signs are that it will be chaotic and deeply antagonistic, with spats over trade, tariffs and Russia, to say the least.
Major Investors Call for Paris-Aligned Energy Scenarios
288 major investors worth more than $26 trillion USD in assets are warning that we aren’t on track to meet the goals of the Paris Agreement and lack the tools needed to get there.   In a public statement and policy brief released yesterday, the group which includes major pension funds, banks, asset managers, churches, … Read More
RELEASE: Oil Change International responds to G7 failure on fossil fuel subsidies, G6 recommitment to Paris Agreement
FOR IMMEDIATE RELEASE May 27, 2017 CONTACT: Alex Doukas, alex [AT] priceofoil.org Reaction: G7 leaders cave in the face of fossil fuel cronyism, fail to recommit to ending fossil fuel subsidies by 2025 In response to the G7 Leaders’ CommuniquĂ© released today, where world leaders failed to reaffirm their commitment to phase out fossil fuel subsidies … Read More
Canada Takes First Step to Cut Fossil Fuel Handouts – Thanks to People Power
The clean energy picture got a little bit brighter in Canada last week, after the 2017 budget started chipping away at the $1.6 billion in federal subsidies to oil and gas companies each year.
Reaction: 2025 fossil fuel subsidies deadline in G7 Leaders’ Declaration
FOR IMMEDIATE RELEASE May 27, 2016 Contact: Alex Doukas, alex [at] priceofoil [dot] org G7 leaders call for end to fossil fuel subsidies worldwide by 2025 In response to the G7 Leaders’ Declaration released today, where world leaders for the first time established a deadline on their commitment to phase out fossil fuel subsidies, Alex Doukas, Senior … Read More
Swept Under the Rug: How G7 nations conceal public financing for coal around the world
In providing public finance for coal projects, Japan ranks as the worst offender among the G7 nations for supporting more than $22 billion in overseas coal projects from 2007-2015, and for plans to finance another $10 billion in future coal projects. Other G7 nations also financed coal development between 2007-2015
What do Japan and the tobacco industry have in common?
“Cigarettes are good for you.” The tobacco industry successfully peddled this myth for decades. Today, nobody would believe them, and the boldness of the lie seems staggering in retrospect. But Japan, under the leadership of Prime Minister Shinzo Abe, seems determined to give the tobacco industry a run for its money with another big lie: … Read More
As G7 Pledges to Phase Out Fossil Fuels, Over $50 Billion Invested in Oil and Gas
The front pages of many of this morning’s newspapers reflect the ground-breaking pledge by the Group of Seven industrial powers, known as the G7, to decarbonise the global economy by the end of the century.
Richest Countries Spending Billions to Expand Unburnable Carbon Stock
A new report released today by Oil Change International outlines billions of dollars of annual subsidies from the seven richest countries in the world to expand fossil fuel reserves, despite repeated commitments from those same countries to phase them out.