Coherent Identifier About this item: 20.500.12592/xmnr51

Kia ora Minister Shaw

19 May 2022

Summary

We welcome the momentum this joint statement has generated and particularly the clear, near- term deadline of the end of 2022 for ending international public finance for unabated oil, gas and coal projects. [...] To be equitable, this shift must be accompanied with exponential increases in clean energy support to the most vulnerable countries — compared to the majority of international public finance for energy that currently flows between wealthy countries.3 However, for the Statement to have this potential impact, New Zealand must implement its commitments under the Glasgow statement with integrity and e. [...] Indirect finance and policy lending accounts for over 50% of the portfolio of some lending institutions, and this is likely growing.9 • End proactive lobbying and facilitation of engagement with foreign governments (for example via embassies) if that support promotes the production or use of fossil fuels – including lobbying to grant companies authorisation to explore for, produce or sell fossil f. [...] Some of the largest providers of public finance for fossil fuels (Japan, Korea, China, and Australia) and most MDBs have not yet signed the statement, though signatories together account for a significant share of the votes at the MDBs. [...] • Cement the commitments made in the statement in existing international policy processes including at the MDBs, in the G7, G20 and the OECD.

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