Oxfam reaction to pledge to end finance for overseas fossil fuel

Responding to reports that around 20 countries have committed to stop financing overseas fossil fuel projects by the end of 2022, Oxfam's climate policy lead Nafkote Dabi said:

"This is an encouraging move that will divert much-needed resources to clean energy and help countries to develop in a low carbon way. Energy is vital to economic and social development, burning fossil fuels is not. This is the only way we can meet the collective goal of limiting global heating to 1.5C.

"With around 20 governments already on board, it is now vital that others sign up at these talks, including some of the largest funders of overseas coal, oil and gas who are notably absent.

"I also hope that these signatories will bring forward clear commitments to help poorer countries build clean energy systems. They should also progress to phasing out all new fossil fuel projects at home as well as abroad, as the International Energy Agency says we must."

Ends