Germany, Italy, Canada, United States warned to keep their climate promise on first anniversary of initiative to end public finance for fossil fuels

November 15, 2022By OCI TeamFeatured, Press Releases No Comments

A UK Government event at COP27 in Egypt has marked the first anniversary of a groundbreaking international initiative to phase out international public finance for fossil fuels, one of the most concrete outcomes of last year’s UN climate summit in Glasgow. At today’s event, countries took stock of implementation efforts and announced Nepal as a new signatory to the pledge, making this country the 40th signatory to the statement.

New Report: International public finance for fossil fuels dropped in 2021, but a rebound is likely unless key governments deliver on pledges

November 1, 2022By OCI TeamFeatured, Press Releases No Comments

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.

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 until COP27 and campaigners around the world take action to urge their 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.