France joins Cop 26 pledge to end fossil fuel financing
France and Belgium are among the latest countries to sign a declaration to end public financing of unabated fossil fuel projects overseas.
France's ecological transition minister Barbara Pompili signed the declaration at the UN Cop 26 climate summit in Glasgow today, bringing forward France's target to end overseas fossil fuel funding to 2022 from 2035. It comes just a day after France joined the Beyond Oil and Gas Alliance (BOGA), which aims to set an end date to oil and gas production.
"The fight against climate change means leaving fossil fuels behind," Pompili said.
Belgium and Sri Lanka are also among the countries to sign the declaration on fossil fuel funding today, bringing the total to more than 31 countries and institutions since the initiative was launched at the beginning of last week. And pressure is mounting on more to join the pledge as the Cop 26 conference draws to an end this weekend.
"Every country, every city, every company, every financial institution must radically, credibly and verifiably reduce their emissions and decarbonise their portfolios starting now," UN secretary-general Antonio Guterres said today.
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Volatile energy prices risk the transition: IEF
Volatile energy prices risk the transition: IEF
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Citgo auction result delayed amid last-minute motions
Citgo auction result delayed amid last-minute motions
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US seeks to purchase 6mn bl for SPR
US seeks to purchase 6mn bl for SPR
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