On 31 March 2021, thanks to the campaigning of frontline activists and civil society groups, the UK committed to mostly stop funding overseas fossil fuel projects.
However, the government also introduced loopholes into this policy to allow for continued investments in gas power projects. Our campaign continues.
Between 2016 (when the Paris Agreement was signed) and 2020, the UK government invested nearly £4 billion of public money in fossil fuel infrastructure around the world since.
Ahead of the UK hosting the COP26 climate talks in Glasgow next year, it's an embarrassment that the UK is still dragging its heels on this issue.
CDC Group, the UK’s development bank, has invested over half a billion pounds of aid money in fossil fuels in the past decade. UK Export Finance has also given billions of pounds of support to fossil fuel exports in recent years.
Investments like these will lock in high carbon emissions in the global south for generations to come. Although CDC now says it will stop financing fossil fuels, its new policy is also full of loopholes.
Ahead of COP26, the government must show genuine leadership and solidarity with frontline communities by ending all UK support for fossil fuels, divesting from existing projects, and stepping up climate finance to fund a just transition to renewable energy.
Please tell the Prime Minister to stop ALL funding for fossil fuels overseas now.