Ipek Gen News Today

"Governments continue to pour fuel on to the fire."

Oil, gas and coal benefited from $7tn in support in 2022 despite being primary cause of climate crisis

World Bank says subsidies costing as much as $23m a minute must be repurposed to fight climate crisis

Oil companies made monstrous profits this year, and yet they still are propped up by hundreds of billions of dollars of public funding that slow any meaningful Energiewende. What’s going on?

Bloomberg HT Journalist Ali Cinar interviewed ODIs climate expert Ipek Gençsü on expectations for the COP27 summit, climate finance, and energy efficiency.

Subsidies reached new highs in 2021, even before Russia’s invasion of Ukraine, a Climate Transparency analysis finds

"The most powerful countries in the world keep ratcheting up public funding for fossil fuel projects and increasing emissions—despite the fact that continued investment in dirty fuels could push us beyond the warming targets laid out in the Paris Agreement."

The Climate Transparency Report 2022 found that fossil fuel subsidies from G20 countries reached record levels in 2021.

New Climate Transparency report reveals fossil fuel production subsidies surged to highest levels on record in 2021

The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas - as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.