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.
A new analysis finds that six major multilateral development banks provided over $7 billion in public financing for fossil fuels in 2015, and over $83 billion in financing for fossil fuels from 2008 to 2015, despite public claims of the urgent need for action on climate.
Companies like ExxonMobil, Shell and BP routinely use their in-house energy forecasts to justify investments in multi-decade, high-cost projects, from the Arctic to the tar sands. While the companies present their published forecasts as objective analyses, the forecasts rather reflect the future they want us to believe in.
An update to our previous reports on international coal finance, this report confirms that financing for coal threatens to undermine the Paris Agreement's aims.
A handful of wealthy countries are still funding fossil fuels instead of climate action, giving 3.6 times more public money to prop up fossil fuels than they’re giving to developing countries to address climate change.
If the world is going to meet the goals of the Paris Agreement on climate change, international financial institutions—including the World Bank—must do their part. The World Bank has made commitments to fight against climate change but continues to finance fossil fuel exploration, production, and combustion—the primary drivers of climate change.
In the past three years, the North American and European commercial and investment banking sector has engaged in fossil fuel financing practices that are deeply at odds with the global climate agreement reached at COP 21 last December.
In providing public finance for coal projects, Japan ranks as the worst offender among the G7 nations for supporting more than $22 billion in overseas coal projects from 2007-2015, and for plans to finance another $10 billion in future coal projects. Other G7 nations also financed coal development between 2007-2015
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.
This report assesses how four multilateral development banks (MDBs) — World Bank Group, Inter- American Development Bank, African Development Bank, and Asian Development Bank — are measuring up in their efforts to address the global energy access challenge.
Combining all known public sources, and augmenting them with subscription industry databases, this report makes comprehensive information on public financing for coal easily accessible for the first time.
