Discover and read the best of Twitter Threads about #StopFundingFossils
Most recents (8)
“In a crucial year, this COP made NO progress towards the just + equitable phase-out of fossil fuels we so desperately need.”
– @esbast on why #COP27’s outcome was deeply problematic despite key progress on #LossAndDamage.
Full response from our experts: priceofoil.org/2022/11/20/cop…
– @esbast on why #COP27’s outcome was deeply problematic despite key progress on #LossAndDamage.
Full response from our experts: priceofoil.org/2022/11/20/cop…
The most important advances at #COP27 happened outside the official UNFCCC process, where our movement for climate justice grows stronger everyday.
Initiatives like @beyondoilgas, the Glasgow Statement on Public Finance, @mpsfossilfree, @fossiltreaty + more are leading the way.
Initiatives like @beyondoilgas, the Glasgow Statement on Public Finance, @mpsfossilfree, @fossiltreaty + more are leading the way.
“Throughout #COP27, civil society has demanded we #PhaseOutFossils & called for rich countries to pay up for climate debt. People power will force an equitable end to fossil fuels + just transition to renewable energy.”
– Executive Director @esbast
– Executive Director @esbast
LIVE FROM #COP27: What's needed from the 39 countries & institutions who promised to #StopFundingFossils abroad by the end of this year?
Follow along with us here as @vanessa_vash, @LaurenceTubiana, @AsianPeoplesMvt, @GrupoGFLAC and more give an update🧵
eventbrite.com/e/cop27-side-e…
Follow along with us here as @vanessa_vash, @LaurenceTubiana, @AsianPeoplesMvt, @GrupoGFLAC and more give an update🧵
eventbrite.com/e/cop27-side-e…
@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC The Glasgow Statement was a bright spot of COP26, as the 1st international pledge to deal not just with coal finance but oil & gas as well!
If signatories follow through, it will directly shift at least USD 28 billion a year from fossils to clean 🌅 iisd.org/publications/r…
If signatories follow through, it will directly shift at least USD 28 billion a year from fossils to clean 🌅 iisd.org/publications/r…
@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC This public finance matters because it shapes our future energy systems, often tipping the ⚖️ on which projects get built, and which don't. But instead of building a just, renewable future wealthy countries are still using it to lock in more fossils! priceofoil.org/g20-at-a-cross…
NOW: At UK #COP27 pavilion, an update on #StopFundingFossils pledge promised last year by 39 countries & public banks to end all international public 💵 for fossils abroad and instead “fully prioritize” finance for clean & just energy transition by the end of 2022. Follow here 👇
Of the 16 major financing countries who signed onto the pledge, 6 have new policies that fully or almost fully #StopFundingFossils. More are expected in the coming days and weeks to meet 2022 deadline. Check for updates on our tracking briefing here ➡️ priceofoil.org/2022/10/07/lea…
If signatories follow through on their commitment, this will directly shift USD 28 billion a year out of fossil fuels and into clean energy, which would help shift even larger sums of public and private money.
NEW REPORT: We looked under the hood of G20 countries' international public finance for energy ahead of their Very Big Deadline to #StopFundingFossils.
🧵Here's more on the $55 billion / yr in fossil fuel money we found & how we can stop it 🧵
priceofoil.org/g20-at-a-cross…
🧵Here's more on the $55 billion / yr in fossil fuel money we found & how we can stop it 🧵
priceofoil.org/g20-at-a-cross…
GOOD NEWS: Public 💵 for fossils just dropped for the first time, and ~1/3 of this is from action from UK, @EIB, & others.
BAD NEWS: The rest of the drop is (a) just noise, (b) already overturned in early 2022 data, or (c) from worse data availability!
priceofoil.org/g20-at-a-cross…
BAD NEWS: The rest of the drop is (a) just noise, (b) already overturned in early 2022 data, or (c) from worse data availability!
priceofoil.org/g20-at-a-cross…
But there is a growing 🌊 of countries adding more fossil free public finance policies that could mean this trend continues. For this to happen, @OlafScholz, @JustinTrudeau, @POTUS, @ItalyMFA_int need to show up at #COP27 with policies too! priceofoil.org/g20-at-a-cross…
🧵 🇯🇵, the world’s 2nd largest provider of public finance for fossil fuels, just committed to #StopFundingFossils at the @G7! If it follows through, this will directly shift $11 bn/yr out of fossil fuels & into clean. [1/9]
JP was the only @G7 member that hadn't yet signed up to the same commitment @ the global climate conference in Glasgow last yr. The G6 have now succeeded in bringing 🇯🇵 on board. See our briefing with @IISD_news @AsianPeoplesMvt, @FoEJapan, @foe_us: priceofoil.org/2022/05/24/fac…. [2/9]
Importantly, the @G7 make this commitment “to advance national security interests” and accelerate the international clean energy transition, which they recognize requires “phasing out continued global investment in the unabated fossil fuel sector”. [3/9]
🧵 Thread time:
Today we launched energyfinance.org ⚡ tracking G20 international public finance flows to fossil fuels vs. clean energy - over 14,000 transactions over a decade.
[1/16] So now let's get into why these public finance flows matter. bit.ly/3OrHf68
Today we launched energyfinance.org ⚡ tracking G20 international public finance flows to fossil fuels vs. clean energy - over 14,000 transactions over a decade.
[1/16] So now let's get into why these public finance flows matter. bit.ly/3OrHf68
[2/16] Public finance shapes our future energy systems. All public finance institutions’ investments together total $2.2 trillion a year with a double-down impact of influencing decisions of private financiers - tipping the ⚖️ on which projects get built, and which don't.
[3/16] The science says we need to #StopFundingFossils NOW & a just transition to clean energy to avoid the worst impacts of climate change. But energyfinance.org shows G20 public finance remains skewed towards fossil fuels 🔥 while support for clean energy has stagnated.
It turns out today's been a pretty wild ride for our Twitter handle! 🥳
More seriously & since you're here, we've got *ADVICE*.
Faced w/ #COVID19, governments have a choice: Build resilient societies to prioritize health & safety of #PeopleNotPolluters OR bail out fossil fuels.
More seriously & since you're here, we've got *ADVICE*.
Faced w/ #COVID19, governments have a choice: Build resilient societies to prioritize health & safety of #PeopleNotPolluters OR bail out fossil fuels.
The bottom line: Today, several years of #fracking companies going bankrupt, several decades of coal's decline — these are what an UNMANAGED decline of the fossil fuel industry looks like.
It hurts workers & communities badly, while fossil fuel executives get golden parachutes.
It hurts workers & communities badly, while fossil fuel executives get golden parachutes.
Today's wild ride of oil futures prices is a big deal, but the industry isn't disappearing tomorrow.
Instead, the current madness is driven by a 1-2-3 punch of:
- Demand destruction from #COVID19
- Global price wars
- Structural decline from renewables & decarbonization
Instead, the current madness is driven by a 1-2-3 punch of:
- Demand destruction from #COVID19
- Global price wars
- Structural decline from renewables & decarbonization
The latest plan out from @JayInslee is what real climate leadership looks like. Full stop. It's time we got serious about taking on the out-of-control fossil fuel industy. His Freedom from Fossil Fuels plan does that. oilchangeusa.org/response-insle…
@JayInslee I mean just look at these headers! They're what climate leadership dreams are made of!
@JayInslee Gotta love the shout-out to the first rule of holes. And he's not wrong. We need to #StopFundingFossils. Now.
