Oil Change International | Data Driven, People Powered.

Our Movement Stands In Solidarity With Tiwi Islanders And Environmental Defenders: We Denounce Attacks By The Australian And Senator Susan McDonald

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.

What we need to see from the Biden Administration before Trump takes office.

This NDC is the first to acknowledge the need to phase out fossil fuels – yet it utterly fails to deliver.

This analysis provides the Biden administration with overwhelming legal, economic, and environmental justification to stop the unchecked expansion of LNG exports.

The $300 billion climate finance offer at Baku is a scam — nowhere near what's needed and not debt-free. Rich countries are planning for fossil fuel phaseout failure and dodging responsibilities by forcing developing countries and the private sector to cover the bill. This creates a debt trap for those most vulnerable to the climate crisis. If rich countries put their hoarded trillions on the table instead of making excuses, we’d see real progress on fossil fuel phase-out. The US, EU, and UK show sickening indifference while millions pay with their lives. We will not give up.

Last year at COP28, governments committed to transition away from fossil fuels. The next key step to make good on this landmark energy agreement is rich countries agreeing to a new climate finance goal of at least $1 trillion annually to make this possible. This will allow countries to deliver national climate plans (NDCs) due in 2025 that phase out fossil fuels.

Big oil and gas companies’ voluntary “Decarbonization Charter,” launched at COP28, is a dangerous distraction from the urgent need to rapidly phase out fossil fuels. New data shows Charter members have approved massive oil and gas expansion plans since signing on.

There is no shortage of public money available for rich countries to pay their fair share on fair terms for climate action at home and abroad. They can mobilize over USD 5.3 trillion per year for the new climate finance target at COP29, international development needs, ensuring fair fossil fuel phase out in their NDCs, and other public goods.