Oil Change International responds to mixed bag at COP28 Finance Day outcomes

December 4, 2023By nicolePress Releases, Stop Funding Fossils

Today was Finance Day at the UN climate talks in Dubai, with a mixed bag of outcomes according to Oil Change International campaigners. Multilateral development bank representatives met with the COP28 Presidency, and failed to show progress in redirecting much needed finance for a just energy transition, while export credit agencies indicate a significant drop in fossil fuel support. 

COP28 Media Advisory – Day 4

December 3, 2023By nicolePress Releases

As the UN climate talks are well underway, fossil fuel phase out and an agreement to triple renewable energy and double energy efficiency are top of the agenda. Today, ahead of finance day, transforming public finance institutions to free up billions of dollars that are available to pay for the just transition is also entering the conversation – as 200+ civil society groups today call on world leaders to use COP28 to overhaul global monetary, trade, tax, and debt rules, as well as international financial institutions like the World Bank and International Monetary Fund. 

Study confirms need to redirect billions in Netherland’s fossil fuel subsidies

October 12, 2023By nicolePress Releases, Stop Funding Fossils 1 Comment

Ending fossil fuel subsidies presents a massive opportunity to shift billions to pay for energy efficiency, renewable energy, and climate finance, as well as to social protection measures that can mitigate any harmful impacts on households. If the Netherlands takes action now, it has an opportunity to bring other countries along at COP28, the upcoming UN climate conference in Dubai.

“Global Financial Architecture” reform must see rich countries pay their fair share for fossil fuel phase out.

October 5, 2023By Claire O'ManiqueBlog Post, Stop Funding Fossils

As communities face rising debts and rising seas, pressure from people-powered movements has put global financial architecture reform on the multilateral agenda for the first time in decades. This is desperately needed, as our current international monetary, trade, tax, and debt rules are limiting how much funding is available for climate action.