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Switzerland is the first signatory of the Clean Energy Transition Partnership (CETP) to water down its policy to end international public finance for fossil fuels. The country has now also surpassed the United States in providing the most international fossil fuel finance since the end of 2022 deadline passed, providing a total of almost $3.6 billion.
As the world's biggest expander of oil and gas, the U.S. has a responsibility to lead a global and just transition away from fossil fuels. President Biden has the authority he needs and more tools than he has used to end the era of fossil fuels. All he needs is the political will.
Projects like CP2 will never be built because of fierce opposition by frontline communities. But instead of taking note, Japanese financiers and companies are doubling down on support for US LNG which poses tremendous financial, social and environmental risks.
“As the head of the IEA, Mr. Birol should know the time to focus only on coal as a climate culprit is over. We need a full, fast, fair, funded phase out of all fossil fuels. Setting such a low bar for ambition is out of touch and inequitable, keeping the door wide open for major oil and gas producers."
Kenya’s debt needs to be audited and any unjust debts and interests should be canceled. This would grant the country economic sovereignty, alleviate the heavy debt repayment burden on Kenyans, and give them a chance at a decent and equitable life. Rather than imposing steep austerity measures, the IMF should prioritize social and economic justice that promotes the well-being of the people.
Almost 40% of US gas is “certified” by third-party companies, allowing producers to claim reduced methane pollution. The problem? The claims are false. New research from Earthworks and Oil Change International compares first hand field evidence to operators’ emissions monitoring data.
The rich countries most responsible for this crisis must pay up for a fair fossil fuel phase-out and climate damages, without worsening unjust debts. We know they have more than enough money. It’s just going to the wrong things.
Almost 40% of US gas is “certified” by third-party companies, allowing producers to claim reduced methane pollution. The problem? The claims are false. New research from Earthworks and Oil Change International compares first hand field evidence to operators’ emissions monitoring data.
