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US Continues to Finance Fossil Fuel Projects Abroad Despite COP26 Pledge

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An analysis found rich countries, including the U.S., spent $4.4 billion despite promising to stop by end of 2022.

Wednesday that “the U.S., Italy, and Germany are going rogue by backtracking on their commitment to end international public finance for fossil fuels. Public money that should be going to support a just transition to renewable energy is instead being pumped into more climate-wrecking fossil fuel projects, harming communities.”

Frontline community leaders also spoke out. Center for Environmental Law and Community Rights executive director Peter Bosip said: “The people of Papua New Guinea are already facing the full force of climate change. Rising sea levels, extreme weather events, and environmental degradation are already threatening many people’s existence and threatening our way of life. Papua LNG will add to and exacerbate this climate crisis — and financiers cannot, and should not, finance it.

 

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