<
https://theconversation.com/cop28-turning-the-tap-off-slowly-why-australias-decision-to-end-overseas-fossil-fuel-finance-matters-219318>
"Until recently, financing fossil fuel projects has been relatively easy.
But that is slowly changing. At the COP28 climate negotiations yesterday,
Australia announced it will sign the Glasgow Statement and will no longer
finance international oil, gas and coal projects. Domestic projects are not
part of the agreement.
Major Australian allies such as the United States and United Kingdom, as well
as 32 other nations and five public banks, made this commitment in 2021. It’s
an agreement between governments and public financial agencies such as
development banks and export credit agencies to end all new public financing
for unabated fossil fuel projects.
By joining, Australia will make it harder to mobilise finance for fossil fuel
projects that produce millions of tonnes of emissions, and make it easier to
fund renewable energy projects that produce very little.
It’s the latest in a welcome series of signals that the international community
is slowly turning off the tap for new fossil fuels."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
