Russia’s war in Ukraine and fuel price spikes mean international public finance institutions must roll out rapid decarbonization and aid packages, not back track by locking in new fossil infrastructure.
"Voters will reward politicians who stand up for people, not polluters, and taxing windfall profits is wildly popular in every part of the country," said Collin Rees.
In light of the war in Ukraine, shareholder actions on climate against Big Oil are faltering. One activist investors says: “The oil industry is really using the energy crisis as an excuse now to stall climate action.”
A new peer-reviewed study published in Environmental Research Letters finds that existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C. The study, led by researchers at Oil Change International and the International Institute...
Public Finance for Energy Database tracks all energy-related transactions from G20 bilateral development finance institutions (DFIs), G20 export credit agencies (ECAs), and the major multilateral development banks (MDBs). This includes 14,000 transactions going back as far as 2008 and totaling...
"The only effective response to today’s compounding crises is for global leaders to support the efficiency and clean energy solutions that can replace these dirty fuels and eliminate the need for any new LNG infrastructure," said Laurie van der Burg.
After some of the most destructive flooding ever to hit South Africa last week, which resulted in over 400 killed and 40,000 displaced, climate activists are calling on the government to speed up the transition away from fossil fuels.
This briefing explains why financial flows to fossil fuels matter and how to use the data provided by the Public Finance for Energy Database to help secure a just energy transition.
10,000+ transactions since 2013 show G20 governments and multilateral development banks continue to finance more oil, gas, and coal than clean energy.
"True energy independence means rejecting fossil fuel expansion and ending Big Oil's greed while rapidly building out renewable energy on public lands and beyond," said Rees.
