Oil Change International publishes upwards of 20 reports and briefings every year focused on supporting the movement for a just phase-out of fossil fuels.
The World Bank Group continues to invest in exploration for new fossil fuel reserves despite clear signs that we already have far more fossil fuels than we can afford to burn, and over the last five years, the World Bank Group’s total fossil fuel finance has trended upwards, with finance into the billions of dollars nearly every year.
Public support for fossil fuel exploration in rich countries is nearly triple the amount pledged to the Green Climate Fund.
G20 countries are estimated to be spending $88 billion every year subsidising exploration for fossil fuels. This new report documents, for the first time, the scale and structure of fossil fuel exploration subsidies in the G20 countries.
World Bank Group finance for fossil fuel exploration projects from FY2008 to 2013 was highest in 2013, at nearly $1 billion out of $2.7 billion total for fossil fuel projects.
