“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.
public finance
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.
Using international public finance to unlock a just transition: key trends and opportunities
This briefing explains why financial flows to fossil fuels matter and how to use the data provided by the Public Finance for Energy Database to help secure a just energy transition.
New energy security task force must not expand fossil gas production or invest in long-lived infrastructure
Today, U.S. President Joe Biden and European Commission President Ursula von der Leyen announced a new task force to reduce Europe’s dependence on Russian fossil fuels. The announcement reveals that the EU and United States plan to expand LNG infrastructure in Europe. Recent research shows such new LNG import infrastructure is not needed.
EU position on ‘ending public support for fossil fuels’ fails to do exactly that
Today the Council of the European Union will approve a statement that commits all Member States to end international public finance in the form of export credits for projects in the fossil fuel energy sector.
Response to new U.S. guidance that could end billions in public finance for oil, gas, and coal
“Any credible analysis of alternatives and alignment with the Paris Agreement would prevent new fossil fuel projects from being financed,” said Tucker.
New research: E3F countries need to shift their EUR 20 billion in export finance for fossil fuels to renewables
A policy brief released today by OCI and ODI shows that despite their commitment to align financial flows with climate goals under the Paris Agreement adopted in 2015, the E3F countries still provided €20 billion in export finance for fossil fuel projects abroad between 2018 and 2020.
France joins commitment to end international oil, gas, and coal finance by 2022
Today’s announcement comes after the Netherlands, Germany and Spain confirmed their participation in the initiative earlier this week and alongside confirmations from Belgium and Sri Lanka today. The French development bank — AFD — had already signed up to the statement, but not the French government as a whole.
Germany joins commitment to end international oil, gas, coal finance, bringing total for potential finance shifted to USD 21.7 billion per year
This increases the number of signatories to 29 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 21.7 billion per year.
United States joins 20+ countries in committing to end international finance for oil, gas, & coal by end 2022
Today the United States and over 20 other countries and institutions from both developed and developing countries committed to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance.