Policy falls short of a major pledge Spain made at the 2021 COP26 UN climate summit to stop financing fossil fuel projects.
Stop Funding Fossils
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.
Pressure grows on World Bank boss to quit over funding of climate chaos
Last week, civil society advocates from across the world convened outside the Washington DC headquarters of the World Bank to protest the Bank’s highly controversial financing of deadly fossil fuel projects.
Release the Guidance: Backgrounder on U.S. International Energy Finance ahead of COP27 Deadline
From 2010-2021, the United States’ trade and development finance institutions provided nearly five times as much support to fossil fuels as to renewables — over $51.6 billion for fossils compared to just $10.9 billion for renewables.
Activists pressure governments to keep their promise to end public fossil finance ahead of COP27 deadline
Campaigners around the world take action to urge leaders to deliver on their pledge to fully shift international public finance from fossil fuels to clean energy ahead of the COP27 deadline.
CSOs say that Export Finance for Future (E3F) countries must deliver on pledge to stop funding fossil fuels
Today, a month before ministers from Export Finance for Future (E3F) countries gather to discuss progress on aligning their export finance with climate objectives, CSOs are sending letters to urge E3F members to deliver on their stop funding fossils pledge.
‘No room for climate deniers!’ CSOs call for World Bank President David Malpass to be fired
Climate change organizations under the Big Shift Coalition have called on the World Bank to fire its President David Malpass.
New report finds International Monetary Fund must curb its support for fossil fuels
“As many Global South countries face the worst debt crises we have seen in a generation and climate disasters at the same time, the IMF has a lot to answer for,” said Bronwen Tucker.
Rep. Jared Huffman, Advocates Call on World Bank to Stop Financing Dirty Fuel-Based Transport Projects
“The World Bank is falling short by doubling down on fossil fuel transportation investments that will lock in climate chaos while creating new sources of sickening pollution for communities around the globe,” said Collin Rees.
Oil Change International launches first of its kind Public Finance for Energy Database
10,000+ transactions since 2013 show G20 governments and multilateral development banks continue to finance more oil, gas, and coal than clean energy.