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Handful of governments block clean energy transition with billions in international finance for fossil fuels

New report shows that between 2020 and 2022, G20 governments and the multilateral development banks (MDBs) provided $142 billion in international public finance for fossil fuels, almost 1.4 times their support for clean energy in the same period. ....

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COP28 President points again to 1.5ºC "North Star", but UAE expansion plans still on the table

“Since COP28 in Dubai, both producers and importers of fossil fuels have a responsibility to accelerate the transition away from them. While COP28 President Al Jaber is right to point out that fossil fuel demand needs to decline rapidly, this cannot be an excuse for the massive expansion of fossil fuels planned by his own company, ADNOC, and the five rich global north countries responsible for the majority of planned oil and gas expansion to 2050, led by the United States." ....

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New analysis: International agreement builds momentum for shifting billions away from fossil fuels, but U.S., others lag behind

U.S. single biggest violator of CETP pledge, approving the most fossil fuel projects of any signatory for a total of almost USD $2.3 billion. ....

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Oil Change International response to IEA Ministerial communique

“Today's commitment to make a finance roadmap to limit warming to 1.5°C and ensure a just energy transition is a welcome step, but in order to be useful, the IEA's new research must continue with strong recommendations to immediately halt finance flowing to fossil fuels, and start recommending dramatically increased public finance on fair terms for renewable energy and energy efficiency." ....

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Oil Change International responds to new draft Global Stocktake

“The draft text calls for the first time on all parties to contribute to the transition away from fossil fuels, which is unprecedented in the UNFCCC and would have been unimaginable just two years ago. " ....

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