Out With the Old, Slow With the New

This report by the International Institute for Sustainable Development evaluates the progress of the Clean Energy Transition Partnership (CETP) signatories in shifting international public finance from fossil fuels to clean energy, finding that while fossil fuel funding has decreased significantly, clean energy investment has not increased at a commensurate scale.

• Signatories of the Clean Energy Transition Partnership (CETP) have largely fulfilled the pledge to stop funding fossils, reducing international public finance for fossil fuels by up to two thirds since signing the agreement, reaching a total of USD 5.2 billion in 2023.
• Investment in clean energy has not increased at the same scale as the reduction in fossil fuel financing; in 2023, CETP members provided USD 21.3 billion in clean energy finance, which represents an increase of only 16% from the pre-CETP baseline.
• While most members adopted robust policies to reduce fossil fuel financing, some countries failed to update their policies or maintained significant loopholes. Specifically, Portugal and the United States failed to update policies, while Switzerland and Italy partially restricted finance but left big loopholes.

APA

DeAngelis,, N. J. O. M. (2024). Out With the Old, Slow With the New. International Institute for Sustainable Development. https://www.iisd.org/publications/report/countries-underdelivering-fossil-clean-energy-finance-pledge

Chicago

DeAngelis,, Natalie Jones,Claire O'Manique,Adam McGibbon,Kate. Out With the Old, Slow With the New. International Institute for Sustainable Development, 2024. https://www.iisd.org/publications/report/countries-underdelivering-fossil-clean-energy-finance-pledge.

Wikipedia

{{cite report |last1=DeAngelis, |first1=Natalie Jones,Claire O'Manique,Adam McGibbon,Kate |title=Out With the Old, Slow With the New |publisher=International Institute for Sustainable Development |date=27 August 2024 |url=https://www.iisd.org/publications/report/countries-underdelivering-fossil-clean-energy-finance-pledge |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{deangelis2024out, author = {DeAngelis,, Natalie Jones,Claire O'Manique,Adam McGibbon,Kate}, title = {{Out With the Old, Slow With the New}}, institution = {International Institute for Sustainable Development}, year = {2024}, month = aug, url = {https://www.iisd.org/publications/report/countries-underdelivering-fossil-clean-energy-finance-pledge}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }