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
China’s 2021 “international coal-exit’’ pledge: a transparency problem
Download briefing as pdf here March 2022 China’s pledge to stop building new coal-fired power plants abroad, announced during the… Continue reading China’s 2021 “international coal-exit’’ pledge: a transparency problem
92 civil society organizations call on financial institutions to avoid taxonomy-aligned greenwashing
March 10, 2022 Paris, March 10th, 2022 – A month after the European Commission approved the inclusion of fossil gas… Continue reading 92 civil society organizations call on financial institutions to avoid taxonomy-aligned greenwashing
CNN: China Stops Coal Investment But Funds Oil and Gas Projects
Wawa Wang, director of Just Finance International, said Chinese funding continues to exacerbate the climate crisis in the Western Balkans, a region where Chinese loans can expand new coal projects.