Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
Clean energy advocates march in an anti-fossil fuel protest in San Francisco. (Photo: Greenbelt Alliance/flickr/cc)
Global Climate Movement Warns Nations Have Just 6 Months to End Fossil Fuel Finance
"The pandemic has shown that governments can rapidly mobilize massive sums of public money," says one campaigner. "This is the moment to do it, and accelerate the transition."
More than 120 civil society groups from around the world on Thursday warned that nations have only six months left to meet a collective commitment made at last year's United Nations Climate Conference to end public financing of fossil fuels.
"The world must immediately stop all new fossil fuel investments to meet the survival target for many vulnerable and poor communities, island nations, and fragile ecosystems."
The 39 nations and financial institutions that signed the statement promised to end "direct public support" for the fossil fuel sector by the end of 2022, "except in limited and clearly defined circumstances that are consistent with a 1.5degC warming limit and the goals of the Paris Agreement."
Letters were sent Thursday to leaders of Canada, Germany, Netherlands, Italy, France, Portugal, and New Zealand. U.K. and U.S. leaders previously received similar letters; the groups will soon write to the governments of Costa Rica and El Salvador. Collectively, letters have been signed by over 500 groups.
"The Glasgow statement has the potential to directly shift at least $24 billion a year in influential trade and development finance from governments away from oil, gas, and coal towards the clean energy transition if it is implemented well--and much more if these initial signatories can convince peers to join them and bring their commitment into other multilateral settings like the G7 and OECD," Oil Change International, which signed the letters, said.
— (@)
The letter addressed to U.S. President Joe Biden urges him to "seize this moment to end our dependence on fossil fuels by building an equitable, just, and renewable energy system for all."
"Rather than using this moment to cave to the oil and gas industry, the Biden-Harris administration must end U.S. financing for international fossil fuels and promote a sustainable, renewable energy future."
Noting the "cascade of emergencies" faced by humanity, the message urges Biden to stop supporting the fossil fuel industry, which causes "air, soil, and water pollution, species extinction, and biodiversity crises," as well as wars "driven by our collective dependence" on oil, and "enormous ecological destruction," while entrenching "global systems of colonialism, racism, and ecocide."
"Fossil fuels are also the primary driver of the climate crisis and sow the destruction captured in the United Nations report from the Intergovernmental Panel on Climate Change," the letter continues. "The International Energy Agency showed that the world must immediately stop all new fossil fuel investments to meet the survival target for many vulnerable and poor communities, island nations, and fragile ecosystems."
Kate DeAngelis, international finance program manager at letter signatory Friends of the Earth U.S., said in a statement that "President Biden started his presidency with bold statements on the need to end overseas fossil fuel financing, but has spent the past year taking little real action. Rather than using this moment to cave to the oil and gas industry, the Biden-Harris administration must end U.S. financing for international fossil fuels and promote a sustainable, renewable energy future."
Oil Change International communications campaigner Nicole Rodel noted that while "Russia's war in Ukraine and the current fuel prices spikes have prompted some Glasgow statement signatories to suggest they may backtrack and use their international public finance to lock in new fossil infrastructure," countries should eschew falling back on dirty energy.
Related Content
Â
Don't Use Russia's War on Ukraine to Expand Fossil Fuels, Green Groups Tell US and EU
"What is desperately needed instead is for global leaders to double down on the Glasgow statement and support rapid decarbonization packages for renewables and energy efficiency in the areas that need it most," Rodel stressed. "The pandemic has shown that governments can rapidly mobilize massive sums of public money. This is the moment to do it, and accelerate the transition to a clean and fair future without fossil-fueled conflict."
Donald Trump’s attacks on democracy, justice, and a free press are escalating — putting everything we stand for at risk. We believe a better world is possible, but we can’t get there without your support.
Common Dreams stands apart. We answer only to you — our readers, activists, and changemakers — not to billionaires or corporations. Our independence allows us to cover the vital stories that others won’t, spotlighting movements for peace, equality, and human rights.
Right now, our work faces unprecedented challenges. Misinformation is spreading, journalists are under attack, and financial pressures are mounting. As a reader-supported, nonprofit newsroom, your support is crucial to keep this journalism alive.
Whatever you can give — $10, $25, or $100 — helps us stay strong and responsive when the world needs us most.
Together, we’ll continue to build the independent, courageous journalism our movement relies on. Thank you for being part of this community.
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
More than 120 civil society groups from around the world on Thursday warned that nations have only six months left to meet a collective commitment made at last year's United Nations Climate Conference to end public financing of fossil fuels.
"The world must immediately stop all new fossil fuel investments to meet the survival target for many vulnerable and poor communities, island nations, and fragile ecosystems."
The 39 nations and financial institutions that signed the statement promised to end "direct public support" for the fossil fuel sector by the end of 2022, "except in limited and clearly defined circumstances that are consistent with a 1.5degC warming limit and the goals of the Paris Agreement."
Letters were sent Thursday to leaders of Canada, Germany, Netherlands, Italy, France, Portugal, and New Zealand. U.K. and U.S. leaders previously received similar letters; the groups will soon write to the governments of Costa Rica and El Salvador. Collectively, letters have been signed by over 500 groups.
"The Glasgow statement has the potential to directly shift at least $24 billion a year in influential trade and development finance from governments away from oil, gas, and coal towards the clean energy transition if it is implemented well--and much more if these initial signatories can convince peers to join them and bring their commitment into other multilateral settings like the G7 and OECD," Oil Change International, which signed the letters, said.
— (@)
The letter addressed to U.S. President Joe Biden urges him to "seize this moment to end our dependence on fossil fuels by building an equitable, just, and renewable energy system for all."
"Rather than using this moment to cave to the oil and gas industry, the Biden-Harris administration must end U.S. financing for international fossil fuels and promote a sustainable, renewable energy future."
Noting the "cascade of emergencies" faced by humanity, the message urges Biden to stop supporting the fossil fuel industry, which causes "air, soil, and water pollution, species extinction, and biodiversity crises," as well as wars "driven by our collective dependence" on oil, and "enormous ecological destruction," while entrenching "global systems of colonialism, racism, and ecocide."
"Fossil fuels are also the primary driver of the climate crisis and sow the destruction captured in the United Nations report from the Intergovernmental Panel on Climate Change," the letter continues. "The International Energy Agency showed that the world must immediately stop all new fossil fuel investments to meet the survival target for many vulnerable and poor communities, island nations, and fragile ecosystems."
Kate DeAngelis, international finance program manager at letter signatory Friends of the Earth U.S., said in a statement that "President Biden started his presidency with bold statements on the need to end overseas fossil fuel financing, but has spent the past year taking little real action. Rather than using this moment to cave to the oil and gas industry, the Biden-Harris administration must end U.S. financing for international fossil fuels and promote a sustainable, renewable energy future."
Oil Change International communications campaigner Nicole Rodel noted that while "Russia's war in Ukraine and the current fuel prices spikes have prompted some Glasgow statement signatories to suggest they may backtrack and use their international public finance to lock in new fossil infrastructure," countries should eschew falling back on dirty energy.
Related Content
Â
Don't Use Russia's War on Ukraine to Expand Fossil Fuels, Green Groups Tell US and EU
"What is desperately needed instead is for global leaders to double down on the Glasgow statement and support rapid decarbonization packages for renewables and energy efficiency in the areas that need it most," Rodel stressed. "The pandemic has shown that governments can rapidly mobilize massive sums of public money. This is the moment to do it, and accelerate the transition to a clean and fair future without fossil-fueled conflict."
Brett Wilkins is a staff writer for Common Dreams.
More than 120 civil society groups from around the world on Thursday warned that nations have only six months left to meet a collective commitment made at last year's United Nations Climate Conference to end public financing of fossil fuels.
"The world must immediately stop all new fossil fuel investments to meet the survival target for many vulnerable and poor communities, island nations, and fragile ecosystems."
The 39 nations and financial institutions that signed the statement promised to end "direct public support" for the fossil fuel sector by the end of 2022, "except in limited and clearly defined circumstances that are consistent with a 1.5degC warming limit and the goals of the Paris Agreement."
Letters were sent Thursday to leaders of Canada, Germany, Netherlands, Italy, France, Portugal, and New Zealand. U.K. and U.S. leaders previously received similar letters; the groups will soon write to the governments of Costa Rica and El Salvador. Collectively, letters have been signed by over 500 groups.
"The Glasgow statement has the potential to directly shift at least $24 billion a year in influential trade and development finance from governments away from oil, gas, and coal towards the clean energy transition if it is implemented well--and much more if these initial signatories can convince peers to join them and bring their commitment into other multilateral settings like the G7 and OECD," Oil Change International, which signed the letters, said.
— (@)
The letter addressed to U.S. President Joe Biden urges him to "seize this moment to end our dependence on fossil fuels by building an equitable, just, and renewable energy system for all."
"Rather than using this moment to cave to the oil and gas industry, the Biden-Harris administration must end U.S. financing for international fossil fuels and promote a sustainable, renewable energy future."
Noting the "cascade of emergencies" faced by humanity, the message urges Biden to stop supporting the fossil fuel industry, which causes "air, soil, and water pollution, species extinction, and biodiversity crises," as well as wars "driven by our collective dependence" on oil, and "enormous ecological destruction," while entrenching "global systems of colonialism, racism, and ecocide."
"Fossil fuels are also the primary driver of the climate crisis and sow the destruction captured in the United Nations report from the Intergovernmental Panel on Climate Change," the letter continues. "The International Energy Agency showed that the world must immediately stop all new fossil fuel investments to meet the survival target for many vulnerable and poor communities, island nations, and fragile ecosystems."
Kate DeAngelis, international finance program manager at letter signatory Friends of the Earth U.S., said in a statement that "President Biden started his presidency with bold statements on the need to end overseas fossil fuel financing, but has spent the past year taking little real action. Rather than using this moment to cave to the oil and gas industry, the Biden-Harris administration must end U.S. financing for international fossil fuels and promote a sustainable, renewable energy future."
Oil Change International communications campaigner Nicole Rodel noted that while "Russia's war in Ukraine and the current fuel prices spikes have prompted some Glasgow statement signatories to suggest they may backtrack and use their international public finance to lock in new fossil infrastructure," countries should eschew falling back on dirty energy.
Related Content
Â
Don't Use Russia's War on Ukraine to Expand Fossil Fuels, Green Groups Tell US and EU
"What is desperately needed instead is for global leaders to double down on the Glasgow statement and support rapid decarbonization packages for renewables and energy efficiency in the areas that need it most," Rodel stressed. "The pandemic has shown that governments can rapidly mobilize massive sums of public money. This is the moment to do it, and accelerate the transition to a clean and fair future without fossil-fueled conflict."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.
SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
