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.
Instead of funding clean energy solutions, G20 governments and multilateral development banks still overwhelmingly fund the problem, averaging nearly $72 billion per year in public finance for fossil fuels compared to less than $19 billion per year for renewable energy.
Germany is falling far short of true climate leadership – our new report details why it must end coal production swiftly with a just transition and stop funding fossil fuels aboard.
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.
New analysis released today at the COP21 climate negotiations reveals that G7 countries along with Australia spend 40 times more on support for fossil fuel production than they do in contributions to the Green Climate Fund.
Public support for fossil fuel exploration in rich countries is nearly triple the amount pledged to the Green Climate Fund.
But as shown in a briefing released by Oil Change International today, while Annex 2 (developed) countries continue to debate how to honor their commitment to provide $100 billion each year by 2020 to help developing countries reduce emissions and adapt to climate impacts, these same countries are providing five times more public support for fossil fuel production and consumption than they have so far pledged in climate finance. These fossil fuel subsidies are driving the global growth in greenhouse gas emissions and therefore directly undermining investments to reduce climate impacts.
Here in Doha for the UN climate negotiations, we've just released new analysis that shows that fossil fuel subsidies in rich countries are, on average, five times greater than those same countries' pledges towards climate finance.
