US Continues to Finance Fossil Fuel Projects Abroad Despite COP26 Pledge
An analysis found rich countries, including the U.S., spent $4.4 billion despite promising to stop by end of 2022.
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An analysis found rich countries, including the U.S., spent $4.4 billion despite promising to stop by end of 2022.
Media Advisory For Immediate Release Sep 6, 2023 Media Advisory: Multiple Briefings and Events Supported by Oil Change International For the United
Rich countries have continued to approve USD 4.4 billion in international public finance despite committing to end this support by the end of 2022. Six countries including the United States, Germany, Italy and Japan have at least 26 fossil fuel projects awaiting approvals, with Germany having the biggest number of projects pending.
Two weeks before global leaders gather for the UN Climate Ambition Summit in New York, new analysis by Oil Change International shows that several major countries continue to pump $4.4 billion in public finance into international fossil fuel projects despite committing to end this support by the end of 2022.
The Bill is in line with efforts around the world, to re-negotiate the social license of the fossil fuel industry to operate and phase out the approval of new projects.