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.
This report, prepared by Oil Change International and Earth Track, is the first independent evaluation of the success of the G20 Pledge to phase out fossil fuel subsidies. The report reveals large gaps in the reporting of subsidies and that no new actions have been taken by G20 nations as a result of their commitment in Pittsburgh to phase out fossil fuel subsidies.
This study finds that none of the World Bank Group’s fossil fuel finance directly targets the poor or ensures that energy benefits are reaching the poor.
The World Bank’s new three-year Strategic Framework on Development and Climate Change makes a strong case for urgent action on global warming, but the Bank’s increased lending for fossil fuels in the past year suggests limiting climate change is far from a priority.
