The global climate emergency needs financing for climate solutions, yet state-mandated institutions and companies continue to bankroll coal, oil and gas investments.
And despite international commitments to phase out the exploration and construction of coal power plants, companies and banks are still enabling the expansion of coal industry, which remains the world’s most carbon-intensive and polluting energy source.
The United Nations Intergovernmental Panel on Climate Change (IPCC) states that if the Paris climate goals are to be achieved, all untouched fossils must stay in the ground, and that all state subsidies for extraction and export must be stopped. Just Finance International calls on governments and financial institutions to take the lead in ending the financing of fossil fuels by export credit agencies and development finance institutions.
News about fossil fuel finance
Just Finance International and Environment Governance Institute Reject TotalEnergies’s Failed Due Diligence Practices in Uganda’s Oil Pipeline
Amsterdam and Kampala, January 12, 2023: Just Finance International takes note of TotalEnergies’ response to our investigative piece, “Risk of…
Risk of poverty after land acquisitions for Uganda’s mega oil pipeline
The construction of the world’s longest heated crude oil pipeline between Uganda’s Lake Albert and the shoreline of Tanzania is…
Just Finance International joins call for EU to stop dash for gas in Africa
Just Finance International signed a letter to European decision makers asking them to cease any deals to expand gas production…