The report revealed that 37 multinational banks funded $ 87 billion worth of carbon - intensive
fossil fuels projects in 2016.
The bank is set to spend billions of dollars
on fossil fuel projects abroad, including $ 14 billion on pending oil and gas projects.
And investors should challenge the strategies of companies which are using shareholder funds to develop high -
cost fossil fuel projects.
The group asks the banks to place an immediate prohibition on loans for
new fossil fuel projects and associated infrastructure, and for them to sell down stakes in coal and gas companies.
The novel suggestion was that the science of keeping the planet to 2 degrees created a new «baseline» reference point against which all
future fossil fuel projects could be tested.
A new report shows how multilateral development banks, including the World Bank, gave over $ 9 billion in funding
for fossil fuel projects in 2016, nearly all of it following the Paris Agreement being reached and despite claims that they were acting on climate and adjusting their investment strategies.
ECAs of OECD - member countries continue to
finance fossil fuel projects despite their national government commitments to combat climate change, including global warming limits contained in last year's Paris Agreement.
«G20 leaders may like to talk about climate, but it's clear their talk is cheap,» said Kate DeAngelis, international policy analyst at Friends of the Earth U.S. «While praising each other for investing in renewable energy at home, they bankroll billions of dollars for
dirty fossil fuel projects in developing countries.
With achingly slow progress at the national and international levels, Fossil Free entered a new phase of the campaign from early 2018, expanding beyond divestment to embrace new demands, tactics and tools, and the goal of stopping all new
fossil fuel projects by 2020.
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.
Export credit agencies — including Ex-Im Bank — are collectively the largest source of public financing for coal and other
fossil fuel projects abroad.
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.
When reviewing the environmental impacts of
fossil fuel projects under the National Environmental Policy Act (NEPA), the judges said, the agency can't assume the harmful effects away by claiming that dirty fuels left untouched in one location would automatically bubble up, greenhouse gas emissions and all, somewhere else.
While the Green Party has always opposed the construction of new
fossil fuel projects such as the CPV power plant in Orange County, Hawkins said that the recent corruption conviction of Cuomo's former top aide required the state to rescind the permit for the plant.
New briefings show that while some banks are making good progress, many are still financing billions of dollars in
fossil fuel projects despite mounting climate impacts and global commitments like the Paris Agreement.
(click image below to enlarge) It's not surprising to hear over-eager developers link the Ex-Im Bank to these projects because the institution has a long history of
supporting fossil fuel projects — and that track record is getting worse.
We support indigenous peoples in
resisting fossil fuel projects, such as the Keystone XL and Dakota Access pipelines, which endanger the health of their lands and waters.
The company behind the Dakota Access pipeline and many other
damaging fossil fuel projects — Energy Transfer Partners — was the focus of nearly 20 actions spanning 10 U.S. states last week.
A leaked draft of his infrastructure plans calls for a rollback of environmental laws and a sell - off of public lands to speed the construction of
more fossil fuel projects.
«It's hard to imagine a worse use of public money than our governments throwing it away on
massive fossil fuel projects, which damage our communities and the climate,» said Alex Doukas of Oil Change International.
With the Senate set to consider these nominees, their approval could allow Ex-Im to spend hundreds of millions, if not billions, of dollars on dirty
fossil fuel projects overseas.
President Obama's decision on this
enormous fossil fuel project by the end of the year will not be a quiet deal with oil industry lobbyists; it will be witnessed by millions of voters who had hoped that President Obama would have the vision to get America off of oil with a moonshot program for oil - free cars by the next decade.
Unhappily, the list (the «Projects of Common Interest», or PCI list) is full of high -
carbon fossil fuel projects, 100 of which support fossil gas infrastructure.
An official cost - benefit study of the proposed «MidCat» gas pipeline connecting France and Spain, prepared for the European Commission, has poured scorn on the
controversial fossil fuel project.
We're endorsing candidates up and down the ballot who are willing to fight for the fossil free future we need by supporting a rapid, just transition to 100 % renewable energy and opposing any new climate -
wrecking fossil fuel projects — and who also share a broad, progressive vision for a just world where all of our communities can thrive.
Please add your name to the open letter, and let's build pressure on the European Commission and European public banks not to back this unjust, unnecessary and
irresponsible fossil fuel project.
Phrases with «fossil fuel projects»