Japan’s Dirty Secret: World’s top fossil fuel financier is fueling climate chaos and undermining energy security

November 8, 2022By Oil Change InternationalBriefings, Featured

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

November 8, 2022By Oil Change InternationalFeatured, Press Releases

FOR IMMEDIATE RELEASE November 8, 2022 Contacts: Makiko Arima — makiko@priceofoil.org (AEST) Susanne Wong — susanne@priceofoil.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

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 Oil Change InternationalFeatured, Press Releases

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

November 1, 2022By Oil Change InternationalBriefings, Featured 4 Comments

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.

Spain joins commitment to end international oil, gas, and coal finance, bringing total for potential finance shifted to USD 23.6 billion per year 

November 10, 2021By LaurieBlog Post, News, Press Releases, Stop Funding Fossils

This increases the number of signatories to 30 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 23.6 billion per year. This equals 37% of annual public finance for fossil fuels provided by G20 countries and the Multilateral Development Banks (MDBs) between 2018 and 2020.Â