Page 4 - Glasgow Statement News Today

The US has been accused of "breaking" a key climate financing commitment by approving almost $100m in support for an overseas fossil fuel project

Climate and environmental organizations gathered at the Japanese embassy to stop the finance Liquefied Natural Gas (LNG) expansion.

"If President Biden + G7 leaders fail to emerge with a strong climate outcome opposing LNG expansion, they will fail us all," said Rees.

Vital groundwork is being laid for the loss and damage fund. But 43 billion barrels worth of oil fields are set to be approved this year.

“If Biden can’t be trusted to keep this relatively modest promise, how can anyone trust the U.S. to live up to its grander climate promises?"

Government-backed LNG projects are exposing the public to stranded asset risks and causing emissions nearly twice the annual emissions of Canada

This new briefing shows G20 government institutions were involved in financing 82% of new Liquefied Natural Gas (LNG) export terminal capacity built from 2012-2022, providing at least USD 78 billion in loans, guarantees, and equity investments for new LNG export terminal capacity projects.

Italy’s far -right government has broken a major climate pledge to end public financing for international fossil fuel projects.

The Netherlands just contradicted its COP26 pledge to end public finance for fossil fuels by the end of 2022 and shift this money to clean energy by issuing a commitment to insure the Brazil Santos Basin Pre-Salt Pole oil and gas production project for around USD 321 million.

The Biden Administration has broken a major promise to end its international public finance for fossil fuels, according to a new report.