#StopFundingFossils and Shift International Public Finance to Clean Energy at the G7

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Thank you for committing at COP26 to end your international public finance for fossil fuels by the end of 2022, and to shift this money to a globally just clean energy transition. This is critical to keep the 1.5°C warming limit within reach and effectively respond to the fossil-fueled war in Ukraine. 

The world is at a critical juncture. Rather than locking in further fossil fuel dependency, the only effective G7 response to fossil-fueled conflict, and the compounding debt, climate, and energy price crises is to prioritize finance for the energy efficiency and renewable solutions that can reduce dependence on fossil fuels and accelerate the transition to a more secure, sustainable, and peaceful future.

The G7 has an important opportunity to shift public money to clean energy. Between 2018 and 2020 the G7 provided four times as much public finance for fossil fuels compared to clean. With all G7 countries apart from Japan signed onto the Glasgow Statement, the G7 has an important opportunity to follow through on their commitments and urge Japan — the world’s second largest public financier of fossil fuels — to follow suit. 

G7 leaders have the necessary evidence, responsibility, and clear mandate to lead the international community away from fossil fuels. They must end public financing of fossil fuel projects and increase public finance support for clean energy.

The world needs public finance to support rapid decarbonization packages for renewables and energy efficiency, not fossil fuels that are driving climate breakdown, energy insecurity, and war. By making your policies as groundbreaking and ambitious as possible and cementing this commitment at the G7, you can show true leadership and build momentum in the lead up to the G20 Summit and COP27. 

Thank you.

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    Thanks to action from people like you, at last year’s global climate talks 39 countries and institutions announced an end to public fossil fuel finance and a massive shift of public money to clean energy. But now we need your help to pressure G7 countries to cement their commitment. 

    We need your help to tell world leaders at the G7 that the time is now — all fossil fuel finance needs to end, and public money needs to be prioritized for clean energy solutions that reduce dependence on volatile and conflict-fueling fossil fuels. 

    The world is at a critical juncture. The only effective response to fossil-fueled conflict, and the compounding debt, climate, and energy price crises is to end the fossil fuel era and instead prioritize finance for the energy efficiency and renewable solutions that can accelerate the transition to a more secure, sustainable, and peaceful future.

    The G7 has an important opportunity to accelerate solutions. Between 2018 and 2020, these countries provided four times as much public finance support for fossil fuels as for renewable energy. In 2021, all of the G7 countries except for Japan committed in Glasgow to end public finance for fossil fuels. We need these leaders to follow through on their commitments and make fossil free public finance a global norm by cementing this commitment at the G7 and pressuring Japan to follow suit. 

    Add your voice: Tell G7 countries they must keep their promise to #StopFundingFossils, shift public money to clean energy solutions, and convince Japan to join them!