fossil fuel and mining - get out of oil, mining and gas
Oil, mining and gas exploration inevitably cause environmental destruction and social disruption. Friends of the Earth believes that such projects should not be subsidized with taxpayers' money from public institutions like the World Bank and Export Credit Agencies.
did you know?
Between 1995 and 1999, IFIs channeled some US$55 billion to the fossil fuel and mining sector.
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IFIs have come under increasing fire for their large volume of lending in the fossil fuel and mining sectors. As concerns about climate change escalate, and as the development impacts of extractive industries are highly dubious, citizens around the world are questioning the role for publicly financed institutions to perpetuate extraction-based economies and fossil fuel dependence.
Institutions that use public money should be pursuing investments that genuinely lead to improvements in people's lives and their environments. A shift away from fossil fuel and mining investments and towards socially and environmentally sustainable energy solutions is one important way of doing so.
Friends of the Earth International is part of a worldwide movement that aims to end the involvement of public institutions in the financing of socially and environmentally destructive projects.
Publication - hands off! Why IFIs must stop drilling, piping and mining
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the extractive industries review
The Extractive Industries Review, or 'EIR', was an independent review of the World Bank's role in funding oil, mining and gas projects in the developing world. Headed by a former Indonesian minister, it consulted widely with stakeholders in the World Bank, civil society, the private sector, governments and academia. The basic question it aimed to address was whether there should be a future role for the World Bank in extractive industries.
* Read more about the World Bank's Extractive Industries Review
news
* victory for the people of Cajamarca, Peru over the Yanacocha gold mine
* The West African Gas Pipeline: Friends of the Earth International says stop the construction
the extractive industries review
* Concerns are growing over the sakhalin II oil and gas project
* The chad-cameroon pipeline has been opened but fails local people
* blockade forces freeport to halt mining at grasberg
* Read more about controversial oil, mining and gas projects around the world
* hands off : why international financial institutions must stop drilling, piping and mining
* Read declarations by communities in papua new guinea and peru on IFIs and mining
* Read Friends of the Earth International's position paper (in four languages)
* Read a policy brief by Friends of the Earth USA on oil revenue monitoring plans " oil funds: answer to the paradox of plenty?" a comparison across countries.
