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World leaders at UN urged to end public finance to fossil fuels
(Climate Change News, 23 Sep 2021) As world leaders prepare to discuss the energy transition at the UN, hundreds of green groups are calling for an end to international public finance for fossil fuels.
In a statement, over 200 organisations from over 40 countries said renewables are cost competitive with fossil fuels and can meet the global south’s electricity and clean cooking needs.
It comes as heads of state and ministers meet leaders from business, finance and civil society in New York. The goals of the “high level dialogue” are to agree a roadmap to achieving “clean, affordable energy for all” by 2030 and share action plans.
Climate Action Network International’s executive director Tasneem Essop said in the statement: “Pumping more public money into oil and gas projects in countries that are already bearing the brunt of the climate crisis will risk locking in stranded assets, burdening global south countries with further fiscal debt and will increase the threat of runaway climate change.”
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Climate Change News, 23 Sep 2021: World leaders at UN urged to end public finance to fossil fuels
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