NGO Statement Ending Fossil Fuel Support

In May 2014, more than 50 NGO have endorsed common recommendations provided by the briefing 'Ending Fossil Fuel Support: the way forward' (to be downloaded on the bottom of this page). This briefing was developed by ECA Watch members in close collaboration with other international and regional organisations.

Climate action is more pressing than ever. Therefore, as also stated by the March 2014 IPCC report, annual investments in conventional fossil fuel power plants have to decline by an average of 30 billion dollars a year over the next two decades, and simultaniously investments in the extraction of fossil fuels have the decline by an average of 110 billion dollars. Coal is the most carbon intensive fossil fuel,and several and several countries have already moved to end public finance for coal. This initiative should be extended by ending support for all fossil fuels and high carbon projects.

It is high time for change. OECD countries need to lead by example to get traction. They must show exemplarity and consistency with their climate claims - before the COP21 of the UNFCCC in Paris in 2015: they must commit that public finance will not support coal projects any more – and more broadly all carbon intensive projects.
Such a step forward by OECD countries is a must before any similar action can be effective with non-OECD countries like China.
1. OECD countries should immediately and publicly commit to end all forms of ECA support for high carbon projects, including coal plants, mines and associated infrastructure
2. To ensure common consistent action of developed countries, they should also support a multilateral OECD agreement to effectively prevent any support for high carbon projects, including coal plants, mines and associated infrastructure from OECD Export Credit Agencies.
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