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.
There is an urgent need to ensure that anti-climate riders stay out of appropriations packages for Fiscal Year 2020 as Congress and the Trump Administration continue to negotiate a spending package.
Over the past decade, nearly 90% of the U.S. Export-Import Bank's total finance for energy projects has flowed to projects in oil, gas, and coal. As momentum grows for climate solutions in the U.S. and abroad, there is an urgent need for a ban on fossil fuel financing at ExIm.
There is no room for further financing of fossil gas or any other fossil fuel projects by the EIB. This briefing calls for the new Energy Lending Policy to reflect this reality. The EIB cannot claim to uphold its commitment to align its finance with the Paris Agreement if it continues to finance fossil gas projects.
This 10th annual "Banking on Climate Change" fossil fuel finance report card reveals that overall bank financing continues to be aligned with climate disaster, and that financing for fossil fuels has increased every year since the Paris Agreement was signed.
Investors often use the WEO to assess energy investments. Contrary to the IEA’s claims, its ‘Sustainable Development Scenario’ (SDS) is not aligned with the Paris goals.
The twin challenges of air pollution and climate change demand a rapid transition away from fossil fuels, and a particularly rapid phase-out of coal-fired power plants. Despite this, the Korean government continues to be among the biggest backers of coal-fired power plants around the world.
Overall, the MDBs are not financing energy access at nearly a sufficient level to meet the needs of energy-poor communities. Much of the energy access finance that is being provided is being directed to many of the communities that need it most. But even so, energy access is not reflected as a priority for the MDBs.
As EBRD and EIB prepare for their respective energy sector strategy reviews, 65 civil society groups from 28 countries released an open letter being sent to top EBRD and EIB officials demanding that they stop financing oil, gas, and coal projects.
This report aims to provide a picture of the public finance flowing to energy infrastructure in Africa from fiscal years 2014 through 2016. It covers development finance institutions including multilateral development banks, as well as the national development banks and export credit agencies of the countries providing the most public finance to energy in Africa.
Given US Bank’s continued financing of oil and gas pipeline construction, and the harm those pipelines cause for communities and the climate, US Bank should extend its policy to prohibit all financing to companies building oil and gas pipelines, and all other fossil fuel infrastructure that neglects Indigenous rights and is incompatible with achieving the goals of the Paris Climate Agreement.
