“Talk is cheap: how G20 governments are financing climate disaster”

G20 governments put four times more money into fossil energy generation than into renewables - despite their official commitment to the Paris Climate Agreement’s aims, NGOs including WWF, Urgewald and Friends of the Earth say in a press release. In a reported titled “Talk is cheap”, the NGOs show how the G20 governments “continue to provide sweetheart loans, guarantees, and other forms of preferential financing to fossil fuel projects" - potentially undermining the Paris Agreement’s goal to keep global warming well below two degrees Celsius. Given the current US administration’s intention to leave the accord, other G20 members had to “step up” and shift public finance from ‘brown’ to ‘green’ activities, they argue.

See the press release in English here and the report in English here.

For background, see the CLEW dossier The energy transition and climate change.