With only six months left till COP26, the UK host has work to do. Ending public finance for fossil fuel projects overseas shows potential, but the UK’s lack of action on fossil fuels domestically risks undermining its credibility.
fossil fuel finance
Is this even legal? Governments propping up fossil fuel production with public money.
Despite the need to rapidly wind-down fossil fuels to avert the worst of the climate crisis, governments worldwide continue to prop up fossil fuel production with huge sums of public money. They may be breaking international law.
Export credit agencies and states potentially at risk of climate litigation over finance for fossil fuels
A new legal opinion lays out the international law obligations of ECAs that are responsible for tens of billions of dollars per year in support for fossil fuels.
International Obligations Governing the Activities of Export Credit Agencies in Connection With the Continued Financing of Fossil Fuel-Related Projects and Activities
This new legal opinion finds that export credit agencies could be in violation of their international legal obligations if they do not take action to reduce their financing of fossil fuel-related activities imminently.
Banking on Climate Chaos 2021: Fossil Fuel Finance Report
This report analyzes fossil fuel financing from the world’s 60 largest commercial and investment banks — aggregating their leading roles in lending and underwriting of debt and equity issuances — and reveals that these banks poured a total of USD $3.8 trillion into fossil fuels from 2016–2020.
Oil industry “stunned” by Biden’s fast action on fossil fuel finance & drilling on public lands
The raft of new bold climate policies by Joe Biden has left the oil industry “stunned” with fossil fuel stocks “plunging” due to his actions.
Pressure builds on Biden after EU promises to act on fossil fuel subsidies
President Joe Biden has made good start on climate change. But one area that the President is coming under pressure is to take action over fossil fuel subsidies and finance.
EU foreign ministers commit to push for end to fossil fuel subsidies and finance; pressure builds on United States to follow suit
“Ending government support for fossil fuels is a no-brainer. Globally, governments are still propping up fossil fuels with huge sums of public money, behaviour that is incompatible with keeping global warming below 1.5ÂşC,” said Laurie van der Burg.
Biden Urged By Hundreds of Groups to Sign Climate Emergency Executive Order
Nearly 400 groups called on President-elect Joe Biden to sign an executive order to confront the climate emergency with the full power of the executive branch as soon as he takes office.
Top US banks still propping up Mountain Valley fracked-gas pipeline boondoggleÂ
Eight main street U.S. banks have substantially increased their investment in the troubled Mountain Valley fracked gas pipeline project, updated analysis by Oil Change International revealed today.