Read the latest insights and analysis from the experts at Oil Change International.
COP29 concluded this past weekend with a deeply flawed agreement on climate finance that plans for fossil fuel phaseout failure and has been carefully crafted by rich countries to dodge their responsibilities to pay the climate debt they owe to the Global South.
Our new analysis shows many governments and finance models overstate the role the private sector can play in financing a just energy transition. This is coming to a head with the deadline for a new climate finance goal (NCQG) at COP29, where rich countries are using this outdated myth to try to get off the hook to pay their fair share for climate action.
President Biden has continued to approve fossil fuel expansion in recent months, while pointing to Congress to excuse the United States’ lack of climate ambition and espousing false solutions like carbon capture and “net zero” plans that perpetuate fossil fuel destruction and environmental racism.
An influential British parliamentary committee has castigated the UK Government - which is paralysed by Brexit – for failing to respond adequately to the climate crisis as well as failing to reflect the urgency of that crisis in the way it funds development and climate-related projects abroad.
"The Green New Deal believes that radically addressing climate change is a potential path towards a more equitable economy with increased employment and widespread financial security for all."
