Italy breaks climate promise to end public financing for international fossil fuel projects, publishing ‘worst-in-class’ climate policy Italy publishes policy that continues investments in new fossil fuel projects, breaking commitment made at 2021 UN COP26 climate summit. Policy denies climate science and fossil fuel phase-out trajectories presented by the IPCC on the same day Civil … Read More
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Germany Fails to Lead at E3F Summit and Threatens Decades of Fossil Fuel Lock-In
Rather than building momentum towards COP27 through delivering strong policies and a harmonized approach to implementing the collective promise to end international public finance for fossil fuels by the end of 2022, the Summit was overshadowed by backsliding.
CSOs say E3F countries need to act with urgency and integrity to meet commitments to end export finance for fossil fuels
The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas – as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.
New research: E3F countries need to shift their EUR 20 billion in export finance for fossil fuels to renewables
A policy brief released today by OCI and ODI shows that despite their commitment to align financial flows with climate goals under the Paris Agreement adopted in 2015, the E3F countries still provided €20 billion in export finance for fossil fuel projects abroad between 2018 and 2020.
Report: G20 Governments Bankrolling the Fossil Fuel Industry with at least $77 Billion a Year
Since the implementation of the Paris Agreement, G20 countries have provided at least USD 77 billion a year in finance for oil, gas, and coal projects.
New #COP21 Analysis: Start funding climate action, stop funding climate chaos
New analysis released today at the COP21 climate negotiations reveals that G7 countries along with Australia spend 40 times more on support for fossil fuel production than they do in contributions to the Green Climate Fund.