Sentences with phrase «finance for fossil»

G20 export credit agencies provided considerably higher levels of support to fossil fuel production between 2013 and 2015 ($ 38.3 billion annually) relative to all other sources of G20 bilateral public finance for fossil fuels between 2013 and 2015 ($ 24.7 billion annually).

World Bank Group finance for fossil fuel exploration projects from FY2008 to 2013 was highest in 2013, at nearly $ 1 billion out of $ 2.7 billion total for fossil fuel projects.

As a first step, the banks should commit to ending finance for fossil fuel exploration and provide transparency about project emissions.»

On average, public finance institutions controlled by G20 governments, along with multilateral development banks such as the World Bank Group, provide $ 71.8 billion per year in public finance for fossil fuels, and only $ 18.7 billion in public finance for clean energy (figure taken from from the report Talk is Cheap: How G20 Governments are Financing Climate Disaster, July 2017, available here).

- The Guardian: G20 public finance for fossil fuels «is four times more than renewables.

Some outlets have incorrectly reported that the World Bank Group will eliminate only their finance for fossil fuel exploration, but it's even bigger than that: the World Bank described it as a commitment to end «upstream oil and gas finance,» which means they're planning to phase out all of their extraction - related finance.

Concerningly, there is no clear trajectory in MDB finance for fossil fuels between 2011 and 2015, despite the growing threat of climate change and rapidly worsening climate impacts around the globe.

Financing for fossil fuel exploration continued at significant levels, in spite of the fact that this lending supports the expansion of projects that threaten the climate.

The African Development Bank and Asian Development Bank have already excluded financing for fossil fuel exploration based on financial risks, and the other MDBs should follow suit.

This will leave room for exceptions that meet particularly acute energy access challenges for which countries request financing for fossil fuel generation projects, particularly if these countries are very low emitters with low projected growth in energy demand.

Therefore, ending their financing for fossil fuel projects would have a significant effect on mitigating climate change — an important piece of keeping global warming below 1.5 degrees Celsius and honoring the commitments made as part of the Paris agreement last year.

ECAs of OECD - member countries provide tens of billions of dollars in financing for fossil fuel projects which greatly worsens climate change.

The report shows that public financing for fossil fuels has a three - pronged effect on efforts to address climate change.

Not exact matches

Over a year which has seen large banks halt funding for fossil fuel projects, major institutions divest from oil, gas and coal holdings, and oil companies snap up power and renewables companies in a bid to diversify their asset base, research published today by the UK Sustainable Investment and Finance Association (UKSIF) and the Climate Change Collaboration suggests nervousness over climate risk has shot up in financial circles.

A small but growing number of countries now have legal requirements for institutional investors to report on how their investment policies and performance are affected by environmental factors, including South Africa and, prospectively, the EU.36 Concern about the risks of a «carbon bubble» — that highly valued fossil fuel assets and investments could be devalued or «stranded» under future, more stringent climate policies — prompted G20 Finance Ministers and Central Bank Governors in April 2015 to ask the Financial Stability Board in Basel to convene an inquiry into how the financial sector can take account of climate - related issues.37

For more information on G20 fossil fuel subsidies, including public finance, read Oil Change International and Overseas Development Institute's report: Empty Promises: G20 Subsidies to Oil, Gas, and Coal Production

The 12 projects contained in today's new briefing are examples that demonstrate how public finance is still acting as a critical lifeline for destructive fossil fuel projects, many of which could not otherwise be built, and how this support continues to this day, a full year after the Paris Agreement entered into force.

«Financing renewables is fundamentally different than fossil energy,» he said, noting, for example, that different investment vehicles are needed when there is a high capital cost up front and extremely low costs for energy in the end.

But when we asked about increasing transparency for the billions of U.S. taxpayer financing Ex-Im allots to fossil fuel projects, we got the same, tired excuses for the Bank's undying support for dirty, outdated coal technology:

Among other serious flaws, the Common Principles allow for fossil fuel financing and are inconsistent with keeping global temperature rise below 2?

If 50 % of the world population stopped using fossil fuels today, emissions would drop, fossil fuel companies would be deprived of finances, their employees wages would have to drop, driving them into other industries, and a vast and lucrative market for alternative energy would open up.

A report from groups including the United Nations environmental arm and Bloomberg New Energy Finance (BNEF) shows renewable energy installations were responsible for 61 % of the world's net power capacity additions in 2017, more than double the new - builds from fossil fuel - powered generation.

We now expect all other public and private finance institutions to follow the World Bank's lead and end fossil fuel financing once and for all.

After providing almost $ 6 billion annually to fossil fuels from 2013 to 2015, the U.S. export credit agency — the U.S. Export - Import Bank (Ex-Im)-- has been unable to finance large fossil fuel projects for the past two years.

New analysis released today by Oil Change International finds that World Bank Group finance for projects that included exploration for new fossil fuel resources reached a new high in FY2013, at nearly $ 1 billion out of the $ 2.7 billion spent in total for fossil fuel projects.

The report, entitled Financing Climate Disaster: How Export Credit Agencies Are a Boon for Oil and Gas, calls on USEXIM and other nations» export credit agencies (ECAs) to phase out all financial support for fossil fuels by 2020 at the latest, in order to help prevent the worst impacts of climate change.

The EU's high - level group on sustainable finance issued its interim report on Thursday (13 July), urging the European Union to stop all public funding for fossil fuel industries such as coal, oil and gas.

As a result of the institution's continued support for dirty fossil fuel projects and its failure to approve a climate sensitive energy strategy, the WBG continues to finance unsustainable dirty energy choices that are harmful to the climate and lock developing countries into energy models that are both dangerous and expensive.

There's still a significant amount of other fossil fuel finance at the World Bank Group that will need to be addressed, including ongoing indirect support for coal through financial intermediaries and development policy finance, as well as other oil and gas finance.

«Campaigners call for an end to fossil fuel finance and subsidies to avoid dangerous global warming at a meeting to mark two years since the signing of the landmark agreement.»

It's the vast majority of climate scientists vs (in this particular case) a front group for activities by PR disinformation specialists, financed indirectly by fossil fuel companies and others opposed to regulation of GHG emission pollution.]

«More than 80 leading economists from 20 countries have signed a Declaration on Climate Finance urging for an immediate end to investment in new fossil fuel projects and a dramatic increase in renewable energy investment.»

And yet, despite some encouraging developments in renewable energy and some breakthroughs in international leadership, carbon emissions continue to rise at a steady rate, and for their pains the scientists themselves — the cruelest blow of all — have been the targets of an unrelenting and well - organized attack that includes death threats, summonses from a hostile Congress, attempts to get them fired, legal harassment, and intrusive discovery demands so severe they had to start their own legal - defense fund, all amplified by a relentless propaganda campaign nakedly financed by the fossil - fuel companies.

Movements will do our part by stopping new fossil fuel projects, ending dirty finance, and getting as many towns, cities, and regions as possible to commit to 100 % renewable energy for all.»

In the U.S. alone, the estimated 2013 bill for lobbying activities by fossil fuel interests amounted to $ 160 million, said the report called Food, Fossil Fuels and Filthy Fifossil fuel interests amounted to $ 160 million, said the report called Food, Fossil Fuels and Filthy FiFossil Fuels and Filthy Finance.

According to Ethan Zindler of Bloomberg Energy Finance, recent price declines for solar energy have been «massive,» while merely «substantial» for wind, meaning that a global shift away from fossil fuels is no longer «theoretical.»

You don't have to be an expert in finance to start a Fossil Free finance campaign, nor to be an expert in renewable energy to push for a commitment to 100 % renewable energy for all in your local area.

Fossil Fuel Subsidies, Public Finance and Leveraging Investment for Sustainable Energy via SWAPs (Nordic Clean Energy Week)

In 3 legislative files currently negotiated in Brussels the European Parliament progressed on financing matters: reporting on Fossil Fuel Subsidies phase - out; the linking the EU budget comes to national climate ambitions; a climate impact assessment tool for EU investments; and a 40 % climate earmarking target for the Juncker Investment Plan.

Fossil fuels and large hydropower accounted for only 4 percent of energy access financing, showing again that investing in large, conventional energy projects is not an effective way to increase energy access.

A 2014 IMF report (covering over 150 countries) provides estimates for taxes on fossil fuel products to reflect pollution and other environmental impacts associated with energy use, while underscoring the large environmental, health, and fiscal benefits from tax reform and the critical role of finance ministries in administration and ensuring efficient use of revenues.

Russell Cook is a paid propagandist working for the fossil - fuel - industry - financed Heartland Institute.

Last year, more than twice as much money was put into new capacity for renewables such as solar and wind power than into new power stations burning fossil fuels, according to a new analysis by the Frankfurt School of Finance and Management.

Their Divest Barclays campaign is organising for institutional boycotts of Barclays and creative direct actions at their branches until the bank ditches al fossil fuel finance.

The multilateral development banks» $ 7 billion in fossil fuel finance in 2015 is part of over $ 83 billion in support for fossil fuel projects they provided between 2008 and 2015, according to the new analysis by Oil Change International.

You won a first place fossil two days ago for holding finance in the green climate fund hostage, and now we have confirmed you are also breaking with agreed practice when it comes to NAMA support.

Markus Trilling, finance and subsidies policy coordinator at Climate Action Network (CAN) Europe, said: «The current approach of the European Parliament to the future EU budget is clearly pointed in the right direction as it recognises how vital it is to make all EU spending work for the climate and to end any support for fossil fuels.»

Ensuring our survival means implementing actions that achieve the 1.5 ºC temperature limit by bringing an end to the fossil fuel era; addressing loss and damage; and fast tracking the flow of climate finance into the Pacific for adaptation.

And for decades, Friends of the Earth has fought this massive fossil fuel financing.

While overall financing of fossil fuel projects at the World Bank has gone down in recent years, support for projects that include exploration for fossil fuels has continued to rise.