EnvironmentNew This WeekNewsletterResources

U.S. Retreats from Pledge to End Gas Investments

Efforts to phase out oil fuel financing during climate were weakened during climate negotiations due to lack of gas supplies created by the status of Russian fossil fuels.

According to Scientific American, the move announced yesterday at the end of the G-7 summit in Germany threatens to undermine commitments announced by the United States and more than 30 other countries at the climate talks in Glasgow, Scotland, to stop spending public money on international fossil fuel projects by the end of this year.

A communiqué released by G-7 leaders sought to soften those concerns by saying its support for continuing gas investments would be “implemented in a manner consistent with our climate objectives and without creating lock-in effects.”

Read More

Don't miss a thing

Sign up to receive our emailed AIWeekly eNewsletter & stay on top of everything happening in the American Infrastructure industry.

Click outside of this box if having trouble closing.