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STATEMENT: Wealthy countries fail to deliver on climate finance at COP29 

Enviromental Defense

When you account for inflation, the new target of $300 billion barely exceeds the previous global commitment that was set in 2009. In 2023 at COP28 , countries agreed to “transition away from fossil fuels” and scale up renewable energy and energy efficiency. We all know that a dollar today does not go as far as it used to.

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All Eyes on Baku: Expectations for Canada at COP29

Enviromental Defense

After 30 years of international negotiations failing to mention the root cause of the climate crisis, the acknowledgement that we must phase out all fossil fuels and massively scale up renewable energy in order to effectively tackle the climate crisis, was both long overdue and extremely significant.

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$18 billion to fossil fuels: Breaking Down the Numbers

Enviromental Defense

million for other categories of support to fossil fuels. Whether through paying companies to improve their operations or by paying for the development of new ‘clean tech’ for the oil and gas industry, the public should not be on the hook for lowering the emissions from the fossil fuel sector.

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G20 still paying billions in fossil fuel subsidies

A Greener Life

Two-thirds of the G20’s public finance for energy went to fossil fuels in 2019–2020. The G20 group of nations provided nearly US$200 billion in support of fossil fuels in 2021, despite the worsening impacts of the climate crisis and their pledge in 2009 to phase out “inefficient” subsidies. By Catherine Early.

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With COP29 nearing its end, wealthy countries must deliver on climate finance now

Enviromental Defense

At last year’s COP, world leaders collectively agreed to transition away from fossil fuels – an indication they are ready to stop fueling the fire. Climate finance is like the water needed to put out the fires of climate change – the countries who are facing climate impacts need this tap to start flowing now.

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Driving on Electricity Is Now Much Cleaner than Using a Gasoline Car

Union of Concerned Scientists

Even where the grid still has significant fossil fuel-powered generation, EVs are a cleaner choice. In the grid region that serves most of Texas, driving the average EV produces emissions equal to an 82 MPG gasoline car, despite over 60% of electricity generation coming from fossil fuels.

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COP29 concludes with an insufficient climate finance deal

Enviromental Defense

trillion must be mobilized every year to transition away from fossil fuels, scale up clean energy, and adapt to climate damages. The final decision was steamrolled through despite opposition from the world’s most vulnerable nations. Experts recognize that over $1.3-trillion A $300-billion commitment sounds like a lot, at first.