2021 Must Mark the End of International Support to Coal, Oil, and Gas

This statement, published by the International Institute for Sustainable Development in 2021, calls for an immediate end to international public finance for fossil fuels to align with the 1.5°C warming limit of the Paris Agreement. It urges governments and public finance institutions to shift funding toward clean energy and a just transition, particularly for low-income countries in the Global South, ahead of COP 26.

• To limit global warming to 1.5°C, governments and companies must cease investments in new oil, gas, and coal fields and mines starting in 2021, while winding down existing production. Currently, G20 members provide significantly more public finance to fossil fuels (USD 77 billion annually) than to clean energy (USD 28 billion annually).
• The document highlights a growing trend of ending overseas fossil fuel finance, noting that the United Kingdom became the first major economy in March 2021 to end trade and development support for coal, oil, and gas. Other institutions implementing restrictions include the French Development Agency, the Dutch development bank FMO, and the European Investment Bank.
• New support for oil and gas is viewed as a risk that locks in outdated infrastructure, particularly in the Global South where centralized gas power is deemed unnecessary for energy access. The statement argues that wind and solar are increasingly cost-competitive alternatives for electricity and clean cooking needs in these regions.
• Ahead of COP 26 in Glasgow, the signatories demand that governments and public finance institutions—including export credit agencies and regional/national development banks—immediately stop all new international public finance for fossil fuel projects across the entire value chain, including extraction, transport, distribution, and power generation.
• The statement calls for a shift in financial priorities to support low-income countries through increased grant-based finance and debt relief. It advocates for ramping up multilateral and bilateral climate finance to scale renewable energy and ensure a just transition for workers and communities in the Global South.

APA

International Institute for Sustainable Development (2021). 2021 Must Mark the End of International Support to Coal, Oil, and Gas. https://www.iisd.org/system/files/2021-09/cso-statement-ending-international-public-finance-fossil-fuels.pdf

Chicago

International Institute for Sustainable Development. 2021 Must Mark the End of International Support to Coal, Oil, and Gas. 2021. https://www.iisd.org/system/files/2021-09/cso-statement-ending-international-public-finance-fossil-fuels.pdf.

Wikipedia

{{cite press release |author=International Institute for Sustainable Development |title=2021 Must Mark the End of International Support to Coal, Oil, and Gas |date=2021 |url=https://www.iisd.org/system/files/2021-09/cso-statement-ending-international-public-finance-fossil-fuels.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{internationalinstituteforsustainabledevelopment20212021, author = {{International Institute for Sustainable Development}}, title = {{2021 Must Mark the End of International Support to Coal, Oil, and Gas}}, publisher = {International Institute for Sustainable Development}, year = {2021}, url = {https://www.iisd.org/system/files/2021-09/cso-statement-ending-international-public-finance-fossil-fuels.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }