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Global Climate Movement Warns Nations Have Just 6 Months to End Fossil Fuel Finance

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'The pandemic has shown that governments can rapidly mobilize massive sums of public money,' says priceofoil's Nic_Rodel. 'This is the moment to do it, and accelerate the transition to a clean and fair future without fossil-fueled conflict.'

"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 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 1.5°C warming limit and the goals of the Paris Agreement." 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."

 

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