Market distorting subsidies to fossil fuels contribute to greenhouse gas (GHG) emissions and impede the transition to sustainable, low-carbon development. In 2009, G-20 countries committed to phase out “inefficient” fossil fuel subsidies in an effort to specifically address climate change and boost...
This report reveals the disconnect between Canada’s promises on climate change and the actions of its official export credit agency, Export Development Canada (EDC), in propping up the oil and gas industry.
Amidst a climate crisis and global pandemic, it's essential that countries develop public finance packages that phase out fossil fuel production and invest in a just, green transition toward renewable energy that benefits communities and industry workers. While the Netherlands...
Canada’s export bank, Export Development Canada (EDC), already provides on average nearly fourteen billion dollars in support to oil and gas companies each year. As a result, Canada ranks second highest among G20 countries in public finance for fossil fuels....
Between 2016, following the adoption of the Paris Climate Agreement, and June 2021, public and private financial institutions poured at least $132 billion in lending and underwriting into 964 gas, oil and coal projects in West, East, Central and Southern...
*Updated March 27, 2025* At the UN COP26 climate conference, signatories of the Clean Energy Transition Partnership (CETP) agreed to international public finance for fossil fuels. This briefing, which will be updated regularly as new policies come out and new...
New research shows stop funding fossils commitment forged at the 2021 UN climate summit is already shifting an estimated USD 5.7 billion per year out of fossil fuels and into clean energy. If all signatories fulfill their commitments, then a...
The 12 projects contained in today's new briefing are examples that demonstrate how public finance is still acting as a critical lifeline for destructive fossil fuel projects, many of which could not otherwise be built, and how this support continues...
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew...
That today’s announcement does not include most of the industry’s wish list is credit to massive public outcry.
