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For the first time in three years of negotiations towards the new climate finance goal due at the end of COP29, we finally have a draft text that includes options for rich countries to pay the scale and quality of finance they owe, and for urgently needed support to flow towards a fair fossil fuel support.
The plan leaves the door open for new gas finance and keeps existing loopholes for continued support for all fossil fuels.
"Every day President Biden refuses to stop the Line 3 pipeline is a slap in the face to Indigenous and environmental justice communities. Climate leadership means ending the fossil fuel era and stopping Line 3."
The G7 has now fallen squarely behind what leading economists, energy analysts, and global civil society has shown is required: an end to public finance for all fossil fuels. Our climate cannot afford further delay, and the failure of the G7 to heed these demands means more people impacted by the ravages of our climate chaos.
Today, 353 organizations from 58 countries released a letter calling on G7 leaders to stop financing fossil fuels; cancel debt payments in global South countries grappling with COVID-19 and climate impacts and pay their fair share of climate finance to global South countries for climate adaptation among other demands.
API is not to be trusted when it comes to climate and energy policy. They have stood in the way of climate action for decades, and continue to spout myths in order to protect the bottom lines of its Big Oil and Gas members.
TC Energy just confirmed what we already knew but it's a thrilling reality all the same — the Keystone XL pipeline is no more and never will be. This is yet another huge moment in an historic effort.
In an open letter released as part of a week of action against the company ahead of their June 8 Annual General Meeting, signatories detailed the threats that ReconAfrica’s potential development poses for human rights, Indigenous rights, local livelihoods, drinking water for over 1 million people, the global climate, and a critical and world-famous ecosystem.
"Big Oil's continued existence is the single biggest threat to our climate, and it's long past time to end giveaways of public money to fossil fuel companies once and for all," said Rees.
The Republican plan not only refuses to end massive public giveaways to the fossil fuel industry, but also foists the cost on the American public through user fees rather than repealing Trump and the GOP’s tax cuts for billionaires and rich corporations. This plan is a joke.
Local and national organizations across the country are coming together for the virtual Rally to End Polluter Welfare because it’s time for Congress to fund our futures instead of fossil fuels.
