Rich nations under fire for funding ‘bridge fuel’ gas overseas | Citypress

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Rich nations under fire for funding ‘bridge fuel’ gas overseas

But the battle is far from won – and is now shifting to include oil and gas finance, climate change campaigners say.

US environmentalists, however, are less hopeful about US action than in January when climate envoy John Kerry told the World Economic Forum the Biden administration would produce a plan to end international financing for fossil fuel projects. She and other campaigners say the details are crucial on commitments on overseas fossil fuel funding and that donors must spell out clearly which fuels and state agencies are covered by their promises, as well as setting near-term deadlines.This month, Denmark, France, Germany, the Netherlands, Spain, Sweden and Britain agreed to harness public export finance as “a key driver in the fight against climate change”.

They also noted the Netherlands, France and Britain continued to provide support for gas extraction in violence-hit northern Mozambique, saying the investments had forced communities from their homes after losing their fishing areas and farmland. It added that construction of the project would increase the African nation’s greenhouse gas emissions by up to 10% by 2022, while annual emissions from using and burning the gas produced would equal the total from the EU aviation sector.

 

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