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DFC is considering a $500 million guarantee to help Poland boost LNG imports, breaking Biden’s promise to end public finance for fossil fuels.
DFC is considering a $500 million guarantee to help Poland boost LNG imports, breaking Biden’s promise to end public finance for fossil fuels.
New analysis by Oil Change International shows that OECD countries supported fossil fuel exports by an average of $41 billion from 2018 to 2020, almost five times more than clean energy exports. This directly contradicts internationally agreed climate goals, including the Paris Agreement objective to align financial flows with the low-carbon energy transition.
Leaving the door open for new gas infrastructure directly contradicts the 2022 G7 pledge to end international public finance for fossil fuel.
This weekend G7 leaders will meet in Hiroshima, a month after G7 ministers left the door open to new gas investments, falsely claiming to have ended fossil fuel finance. Civil society organizations in Japan and around the world are urging G7 countries to hold fast against pro-fossil fuel language in the outcome of the Leaders Summit, and instead reaffirm and strengthen the 2022 commitment to end international public finance for fossil fuels and shift this public money to clean energy.