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      glasgow statement

      Pipes for a new pipeline to transport liquefied natural gas (LNG) from a floating terminal lie on a construction site in Germany on March 28, 2023.

      Critics Warn G20's LNG Subsidies Killing Hope for Livable Future

      "There is no time for so-called transition fuels, when fossil fuel dependency is exacerbating the climate and energy crises, and fossil fuel projects are harming communities and the environment," warned one campaigner.

      Jessica Corbett
      Apr 05, 2023

      Despite pledging to take action on the climate emergency, including by ending international fossil fuel financing, Group of 20 governments continue to pour billions of dollars into gas infrastructure expansion, according to an analysis released Wednesday.

      "Oil Change International (OCI) finds that G20 government institutions were involved in financing 82% of new liquefied natural gas (LNG) export terminal capacity built from 2012-22," states the group's new report, highlighting at least $78 billion in public financing.

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      liquefied natural gas
      Protesters hold a "Stop Failing Us'' banner during the demonstration outside the Bank of England in London as world leaders meet in Glasgow for the COP26 climate summit on November 6, 2021. ​

      'Promise Breakers': Report Exposes Rich Nations Failing to End Fossil Fuel Financing

      "While the Glasgow Statement is a success story that's having a real-world impact in shifting finance away from fossil fuels, some countries like the U.S., Germany, and Italy have broken their promise," said a lead author.

      Jessica Corbett
      Mar 15, 2023

      A report released Wednesday by Oil Change International reveals that while the Glasgow Statement is already shifting billions of dollars from fossil fuels to clean energy around the world, some rich nations are still failing to live up to promises made under the 2021 agreement.

      During COP26—the United Nations climate summit in Glasgow, Scotland—34 countries and five public finance institutions vowed to cut off financing for new international fossil fuel projects by the end of 2022 and instead invest that money in clean power.

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      fossil fuel financing
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