Rich countries at this week’s Climate Summit need to take decisive action to stop the expansion of oil and gas production, both at home and abroad, both to protect the global climate and local communities. True climate leadership means breaking away from destructive oil and gas and investing in real solutions and green jobs that will help people and the planet thrive.
fossil fuel subsidies
CSOs say newly launched export finance leadership coalition (E3F) fails to lead
In response to the launch of a new Export Finance for the Future coalition (E3F), 21 CSOs from 14 countries released a statement criticizing the lack of ambition from the coalition.
Multilateral Development Banks have financed at least $3 billion in fossil fuels during COVID-19 recovery
Today sees the release of the data on project financing from the nine major Multilateral Development Banks on the Energy Policy Tracker and a new Big Shift Global briefing, showing that, since the beginning of the pandemic, the Banks provided at least $12 billion to clean energy and $3 billion for fossil fuels.
Response to Biden executive order on international fossil finance
“Ending international public finance for fossil fuels would be a huge boost to climate action globally. The administration must now invest serious effort and diplomatic capacity to secure this shift in international finance away from oil, gas, and coal.”
Response to Biden climate announcements on oil and gas leases, fossil fuel subsidies
“Today’s move by President Biden to freeze leasing for oil and gas production on federal lands and waters is a critical first step to ending this program once and for all.”
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 1.5ºC,” said Laurie van der Burg.
Biden set to reverse 100 Trump climate-related policies, starting with rejoining Paris agreement
And so as President Biden sets to work on his programme for his first 100 days, there is increasing hope for significant on climate change rising from the toxic legacy of the Trump Administration.
Leading Progressive Groups Launch Pressure Campaign for Biden to Address Fossil Fuels and Climate Crisis
Today, organizations representing millions of environmental, racial, and economic justice advocates across the country are launching a new Build Back Fossil Free campaign to hold President-elect Joe Biden accountable to his promises for bold climate action.
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.
G20 Backtracks on Fossil Fuel Funding Phase-Out in COVID-19 Recovery
Despite repeated pledges to end inefficient fossil fuel subsidies, G20 governments’ support to fossil fuels has dropped by only 9% since 2014–2016, hitting USD 584 billion annually over the last three years, according to a report released today by the International Institute for Sustainable Development (IISD), the Overseas Development Institute (ODI), and Oil Change International (OCI).