cover image: AT A CROSSROADS: - ASSESSING G20 AND MDB INTERNATIONAL ENERGY FINANCE AHEAD OF STOP

20.500.12592/hv6v55

AT A CROSSROADS: - ASSESSING G20 AND MDB INTERNATIONAL ENERGY FINANCE AHEAD OF STOP

29 Oct 2022

8 INTRODUCTION BOX 2: THE OPPORTUNITY – THE GLASGOW PUBLIC FINANCE STATEMENT IS BUILDING MOMENTUM TO SHIFT PUBLIC FINANCE TOWARDS A GLOBALLY JUST ENERGY TRANSITION The signing of the Glasgow Public Finance Statement at the all or most direct international fossil support.39 The United 26th UN Climate Change Conference of the Parties (COP26) Kingdom, Denmark, Sweden, and the European Investment in N. [...] In addition to convincing new signatories to join, this means high-income signatories must Despite the fossil fuel industry push for climate backsliding in extend their fossil fuel exclusions to indirect support and the face of the energy crisis, at the time of publication, seven domestic public finance and develop concrete plans to greatly of the 17 major financing signatories to the Glasgow Publ. [...] and deadly impacts of fossil-fueled climate change and has the fewest resources to manage the impacts, despite contributing The largest recipient of public energy finance in Africa was least to the problem.50 To avoid locking in further climate chaos, Mozambique, where international public finance went largely a rapid, just, and managed decline of fossil fuel production and to fund LNG for export. [...] Between 2016 their clean finance to Africa in a way that centers the needs and 2018 the annual average for fossil gas finance was $4.5 of communities and avoids replicating the harms of fossil fuel billion, compared to $9.7 billion between 2019 and 2021. [...] Oil and Gas: At the global climate conference in Glasgow in November 2021, 34 countries and 5 public finance institutions76 signed a joint commitment to end international public finance for fossil fuels by the end of 2022 and to instead prioritize public finance for clean energy.
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United States of America