Fossil fuel subsidies
G7 coal charade: Funding the fire they claim to fight
Rich countries should take concrete steps to stem the global flow of funds from their commercial banks which are fuelling expansion of the coal industry
No shortage of public money to pay for a just energy transition
With negotiations underway to establish a new global climate finance goal, wealthy countries are once again trying to shirk their responsibilities
Fossil fuel debts are illegitimate and must be cancelled
The Spring Meetings of the World Bank and IMF are a chance to transform outstanding debts for fossil fuel projects into grants for renewable energy systems
Zambia’s fossil-fuel subsidy cuts help climate and kids – but taxi drivers suffer
Under pressure from the IMF, the government has redirected subsidies into education, welfare and debt reduction, leaving fuel-heavy sectors with higher costs
When governments fund fossil fuels, it’s time to take them to court
A new wave of climate litigation is targeting state institutions that are still providing public finance for fossil fuels, despite pledges to turn off the funding tap
US trade agency backs oil and gas drilling in Bahrain despite Biden pledge
Ex-Im’s financing would boost fossil fuel production in the Gulf state with the construction of over 450 new oil and gas wells
Dutch initiative must turn the tables on fossil fuel subsidy reform
We’ve had enough “transparency” and “dialogue” around fossil fuel subsidy reform. It’s time to change the defaults
The OECD must take its chance to stop funding oil and gas
Export credit agencies are still backing oil and gas projects – this week’s OECD meeting is a chance to change that
Forests, methane, finance: Where are the Cop26 pledges now?
Climate Home analysed how highly-publicised commitments are faring two years on from their announcement
Saudi Arabia, Russia urge World Bank to keep funding fossil fuels
Major oil and gas producers hit back at World Bank reforms that aim to channel more money into clean energy
World Bank targets dirty subsidies to fund climate action
The World Bank says it will try to get governments to stop spending public money making fossil fuels artificially cheap
Rich countries sink billions into oil and gas despite Cop26 pledge
The US, Germany and Italy have been accused of backsliding on a Glasgow promise to end public subsidies to fossil fuel projects overseas
Germany plans to keep funding new gas projects overseas despite pledge
Draft guidelines for its export credit agency signal support for some gas projects until 2025 – three years after the deadline set by the Glasgow pledge
Public banks agree to check investments against countries’ climate plans
Ten multilateral development banks have agreed on how to make sure their investments meet climate goals. But experts told Climate Home the rules do not go far enough.
US backs Indonesian oil refinery despite pledge to end fossil fuel finance
The US has been accused of “breaking” a key climate financing commitment by approving almost $100m in support for an overseas fossil fuel project
OECD reforms set to give “green” projects better export finance
OECD countries agree to extend support for ‘climate-friendly’ projects. But vague definitions and inclusion of contested activities worry campaigners.
UK faces legal action over public finance for Mozambique gas project
Friends of the Earth is launching a judicial review over the UK government’s decision to back the multi-billion development, arguing it is inconsistent with the Paris Agreement
US plans to end fossil fuel finance overseas, threatens billions in support for oil and gas
Joe Biden has pledged to work to end public funding of ‘carbon-intensive’ fossil fuel projects – a wording campaigners fear leaves the door open to methane gas
Exclusive: Japan uses ‘environmental’ fund to finance Vietnamese coal plant
The Japan Bank for International Cooperation approved a loan to the controversial Vung Ang 2 coal project from a facility intended for “environmental preservation”
China’s environment ministry floats ‘ban’ on coal power investment abroad
A Chinese government-commissioned report proposes stricter environmental standards for “belt and road” investments, but it needs buy-in from financial institutions