Thread by @PriceofOil

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…

@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…

@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…

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @vanessa_vash is opening the panel “#COP27 has been two weeks of people talking, after two decades of people talking. So many pledges, yet fossil fuel emissions keep rising. People are paying with their lives for these broken promises”

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC .@vanessa_vash: We need to massively expand renewable energy and stop funding fossil fuels… but there are very powerful people at #COP27 who don’t want that to happen. 600 fossil fuel lobbyists here are turning this into a marketing conference for coal, oil and gas.”

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC .@vanessa_vash: "Big oil is making $2 trillion in windfall profits this year and yet we can’t find the necessary funds to help people in Pakistan deal with the devastating flooding, or small island states being swallowed by rising seas." #COP27 #PollutersPay

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @vanessa_vash: "Don’t tell us there is no money for a Loss & Damage Fund. There is plenty of money - what is lacking is political will." #COP27 #PayUp4LossAndDamage #CanceltheDebt #PollutersPay

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @vanessa_vash: At @COP26 39 institutions & countries said they would stop funding fossil fuels. One year later, only half the signatories with major finance have turned their pledges into action."

@PriceofOil is tracking them here ➡️priceofoil.org/2022/10/07/lea…

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @vanessa_vash: “Germany, Italy, Canada and the United States are at risk of breaking their Glasgow promise. This outrages me.”

Are you listening, @JustinTrudeau, @OlafScholz, @POTUS, @MEF_GOV? #COP27

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV Now it is @PriceofOil's @LaurievdBurg: "The 40 Glasgow Statement signatories can shift $28 billion/year out of fossil fuels and into clean energy - enough to close the energy access gap. But ONLY if signatories make good on their promises." Details here: iisd.org/publications/r…

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg .@LaurievdBurg: "The Glasgow pledge is vital to limiting warming. Scenarios that keep warming to 1.5C mean no new fossil fuel expansion. Yet @PriceofOil research shows G20 countries & MDBs provide $55bn/year to fossils." priceofoil.org/g20-at-a-cross…

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg .@LaurievdBurg on @PriceofOil data: "Last 3 years there has been a ~36% drop in public finance for FFs (when averaged). About 1/4 of this can be explained by FF restriction policies. But for this decrease to be sustained, countries must deliver on their Glasgow pledge!" #COP27

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @LaurievdBurg: "Some new policies don’t meet the Glasgow pledge: 🇧🇪 Belgium and 🇳🇱 The Netherlands have big gas loopholes in their policies and must be revised."

Important words for @RobJetten and @BelgiumMFA to hear 👀

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 from UK government speaking now: UK ending public finance for overseas fossil fuels was precedent-setting, led to Glasgow Statement. Future prosperity lies in clean energy. 🌅

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 @LouBurrows7: "At @COP26 a domino effect took place, with 39 countries and institutions signing up to the Glasgow Statement."

We need this again at #COP27 -- Time for a 🌊 for #LossAndDamageFinanceNow!

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 @LouBurrows7: “Germany, Italy, Canada and Spain have said they will have new policies by the end of this year.”

And these policies MUST be compliant with the Glasgow Statement. Keep your promise, @JustinTrudeau, @OlafScholz, @POTUS, @ItalyMFA. ➡️priceofoil.org/2022/10/07/lea…

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 @ItalyMFA @OkotOmoya from @EADBank - which signed the Glasgow Statement last year - speaking now. “We are working on modifying our climate policy, which will include all aspects of the Glasgow Statement.”

@WorldBank, @AfDB_Group, @EBRD should take note.

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 @ItalyMFA @OkotOmoya @EADBank @WorldBank @AfDB_Group @EBRD .@OkotOmoya of @EADBank: “We call upon other international financial institutions who have not signed the Glasgow Statement - they must support this initiative. People are dying because of climate impacts.”

Time to #StopFundingFossils.

https://twitter.com/bigshiftglobal/status/1592517314762903553

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 @ItalyMFA @OkotOmoya @EADBank @WorldBank @AfDB_Group @EBRD @OkotOmoya of @EADBank: "People are dying in Kenya, Uganda from landslides, mudslides, drought, from climate change. We need finance to flow to the Global South. I call upon institutions who have not signed the Glasgow Statement to do so." #StopFundingFossils #COP27

@vanessa_vash @LaurenceTubiana @AsianPeoplesMvt @GrupoGFLAC @COP26 @JustinTrudeau @OlafScholz @POTUS @MEF_GOV @LaurievdBurg @RobJetten @BelgiumMFA @LouBurrows7 @ItalyMFA @OkotOmoya @EADBank @WorldBank @AfDB_Group @EBRD Next up is Promise Salawu of @Tearfund, speaking about how far this money could go to reach universal energy access with solar if it were not wasted on gas exports for wealthy countries!

https://twitter.com/LessWasteLaura/status/1592869560541417475