Rather than match the international policy, today’s announcement leaves the door open indefinitely to domestic public finance for oil and gas, only committing to “announce by fall 2024 the implementation plan” to phase out these flows.
More than 500 groups from six continents and 63 countries sent a letter to President Biden today demanding he stop fossil fuel expansion ahead of UN Secretary General Antonio Guterres’s Climate Ambition Summit this September.
In the seven years since the Paris Agreement was adopted, the world’s 60 largest private banks financed fossil fuels with USD $5.5 trillion. The report lays bare the shocking fact that even as fossil fuel companies made $4 trillion in...
“CCUS is a dangerous distraction from rapidly and equitably phasing out fossil fuels. Giving more public money to prolong Big Oil’s political power and profits is the wrong approach and a poor use of public funds," said Collin Rees.
39 countries and institutions signed a joint commitment to end any support for fossil fuels flowing abroad by the end of 2022, and in its place prioritize finance for clean energy. Recently the G7 reaffirmed their commitment and were now...
Credendo's new policy is meant to implement the Glasgow commitment to end international public finance for fossil fuels by the end of 2022, but it leaves loopholes for existing oil and gas fields and gas-fired power.
With hundreds of millions of people across the word suffering from the fallout of higher energy prices and a cost of living crisis caused by Russia’s deadly war on Ukraine, this week’s G7 summit was the perfect opportunity for the...
Today, the International Energy Agency (IEA) released a new special report on Africa. The 2022 Africa Energy Outlook suggests a potential to increase gas production on the continent to 2030 even in a “sustainable” scenario.
Today the Council of the European Union will approve a statement that commits all Member States to end international public finance in the form of export credits for projects in the fossil fuel energy sector.
This briefing gives financial institutions an overview of the IEA's first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA's conclusion about ending new oil and gas field development is not a product of...
