"While the Glasgow Statement is a success story that's having a real-world impact in shifting finance away from fossil fuels, some countries like the U.S., Germany, and Italy have broken their promise," said a lead author.
The nations with policies that are updated but still not in line with the Glasgow statement are Belgium, Spain, Switzerland, and the Netherlands. Those identified by OCI as in breach of the 2021 deal are Germany, Italy, Portugal, and the United States. "The United States has long claimed to be a world leader in climate action, yet fails to back this up with meaningful action or policy," she said."U.S. agencies like the U.S. Export-Import Bank and U.S. International Development Finance Corporation continue to be piggy banks for fossil fuel projects from Mexico to South Africa to Indonesia, as these nations suffer from climate change.
Germany also has not only failed to put out a policy, but also"is engaged in a 'dash for gas,' including pursuing controversial gas development in Senegal and exploring gas deals with Qatar, the United States, and Iraq," the report says.