A new infographic reveals how fossil-fueled development bypasses African communities, but also illustrates the continent’s potential for a just transition. As Africa holds 39 percent of global renewable energy potential, governments and banks must shift their climate finance commitments towards a renewable just transition in Africa.
This new briefing shows G20 government institutions were involved in financing 82% of new Liquefied Natural Gas (LNG) export terminal capacity built from 2012-2022, providing at least USD 78 billion in loans, guarantees, and equity investments for new LNG export terminal capacity projects.
Government-backed LNG projects are exposing the public to stranded asset risks and causing emissions nearly twice the annual emissions of Canada.
FOR IMMEDIATE RELEASE November 8, 2022 Contacts: Makiko Arima — email@example.com (AEST) Susanne Wong — firstname.lastname@example.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
This new coalition will coordinate actions between nations leading the charge on eliminating public finance for fossil fuels, and will build momentum to provide political guidance in future multilateral negotiations.