Instead of ending oil and gas finance, the OECD has enacted new public financial incentives for the fossil fuel industry, including for hydrogen and ammonia created from fossil gas, as part of its new “climate-friendly” incentives for Export Credit Agencies (ECAs).
Hundreds of civil society organisations from dozens of countries have taken to the streets around the world to demand that the G7 stop peddling fossil fuels to developing countries and stop promoting false solutions to the climate crisis.
“Until Biden reins in Big Oil’s deadly expansion that’s locking in decades of global fossil fuel pollution, his legacy will remain one of failing to confront reckless U.S. oil and gas production that’s killing the planet,” said Collin Rees.
For anyone in the oil and gas industry, there is only one place to be this week. The great and good of the industry has converged on Houston for CERAWeek, which bills itself as the world’s premier energy event.
To coincide with the “GX Week” in Japan, a network of civil society groups from across the region and Global South have come together to call for Japan to stop financing false solutions and delaying the just transition to clean energy.
The creation of the NZPF is a tacit recognition by major oil and gas producers that their contribution to the climate crisis can no longer be ignored. But the framing of the initiative and its main objectives raise the prospect of the NZPF being a greenwashing tool in service to the oil and gas industry’s interests.
The third and final installment in a series of blogs on the IEA’s Special Report on gas and energy transitions. This blog discusses the IEA’s analysis of methane leakage and its faith in carbon capture and storage.