Today, Allianz, currently one of the world's biggest oil and gas insurers, committed to stop insuring and investing in new oil and gas fields, new oil power plants, new midstream oil infrastructure, and practices relating to the Arctic as of January 2023, and will not renew existing contracts for such projects as of July 1, 2023.
The International Monetary Fund and its shareholders are working at cross-purposes with their own stated climate commitments and goals by driving fossil fuel dependency in countries around the world through the institution’s lending, surveillance and capacity building activities. According to a technical brief released today from Friends of the Earth, Gender Action, Urgewald, Recourse, and Oil Change International, the IMF must stop undermining countries’ just transition away from fossil fuels in order to align with its own climate goals and shareholders’ climate agendas.
92 NGOs and CSOs call on financial institutions to reject EU Taxonomy's greenwashing attempt by excluding gas and nuclear energy from their “sustainable” or “green” funds and bonds.
The war on Ukraine serves as a painful reminder that Western democracies need to eliminate their fossil fuel dependency to curb the influence of authoritarian regimes like Russia.