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Banks have given almost $7tn to fossil fuel firms since Paris deal, report reveals

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Among world’s top 60 banks those in US are biggest fossil fuel financiers, while Barclays leads way in Europe.

The world’s big banks have handed nearly $7tn (£5.6tn) in funding to the fossil fuel industry since the Paris agreement to limit carbon emissions, according to research.

In 2016, after talks in Paris, 196 countries signed an agreement to limit global heating as a result of carbon emissions to at most 2C above preindustrial levels, with an ideal limit of 1.5C to prevent the worst impacts of a drastically changed climate.

Many countries have since promised to reduce carbon emissions, but the latest research shows private interests continued to funnel money to oil, gas and coal companies, which have used it to expand their operations.

Eight in 10 of the world’s most eminent climate scientists now foresee at least 2.5C of global heating, according to the results of a Guardian survey published last week – an outcome expected to lead to devastating consequences for civilisation.

Researchers for the banking on climate chaos report, now in its 15th edition, analysed the world’s top 60 banks’ underwriting and lending to more than 4,200 fossil fuel firms and companies causing the degradation of the Amazon and Arctic.

Those banks, they found, gave $6.9tn in financing to oil, coal and gas companies, nearly half of which – $3.3tn – went towards fossil fuel expansion. Even in 2023, two years after many large banks vowed to work towards lowering emissions as part of the Net Zero Banking Alliance, bank finance for fossil fuel companies was $705bn, with $347bn going towards expansion, the report says.

US banks were the biggest financiers of the fossil fuel industry, contributing 30% of the total $705bn provided in 2023, the report found. JP Morgan Chase gave the most of any bank in the world, providing $40.8bn to fossil fuel companies in 2023, while Bank of America came in third. The world’s second biggest financier of fossil fuels was the Japanese bank Mizuho, which provided $37.1bn.

London-based Barclays was Europe’s biggest fossil fuel financier, with $24.2bn, followed by Spain’s Santander at $14.5bn and Germany’s Deutsche Bank with $13.4bn. Overall, European banks stumped up just over a quarter of the total fossil fuel financing in 2023, according to the report.

Tom BK Goldtooth, the executive director of the Indigenous Environmental Network, which co-authored the study, said: “Financiers and investors of fossil fuels continue to light the flame of the climate crisis. Paired with generations of colonialism, the fossil fuel industry and banking institutions’ investment in false solutions create unlivable conditions for all living relatives and humanity on Mother Earth.

“As Indigenous peoples, we remain on the frontlines of the climate catastrophe, and the fossil fuel industry targets our lands and territories as sacrifice zones to continue their extraction. Capitalism and its extraction-based economy will only perpetuate more harm and destruction against our Mother Earth and it must come to an end.”

Critics of the report said its methodology, which relied on investigating deals reported by financial market data companies such as Bloomberg and Refinitiv, meant researchers did not have a detailed view of what was being financed, and by whom.

Specifically, syndicated loans, bond issues and underwriting arrangements often involved several banks with varying levels of exposure. And financing to fossil fuel companies to fund transition technology projects could not be distinguished from financing for new oil wells, they said.

Spokespeople for Barclays, Bank of America, JP Morgan Chase, Deutsche Bank and Santander all emphasised that their organisations were supporting energy sector clients’ transitions toward more sustainable business models. Mizuho declined a request for comment.

Source: the guardian.com

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East African court dismisses appeal against EACOP project

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The Appellate Division of the East African Court of Justice (EACJ) has dismissed a high-profile appeal filed by civil society organisations (CSOs) that sought to challenge the human rights, environmental, and climate risks associated with the East African Crude Oil Pipeline (EACOP) project.

In a ruling delivered on Wednesday at the EACJ headquarters in Arusha, Tanzania, the Appellate Division upheld the First Instance Division’s 2023 decision, concluding that the case was filed outside the time limit set under East African Community (EAC) laws, which generally mandate cases be heard within a 60-day window.

The panel of judges, led by EACJ Appellate Division president Nestor Kayobera, alongside vice president Anita Mugeni and Kathurima M’Inot, agreed that the EACJ did not have the jurisdiction to hear the main case.

Original petition

The original suit was filed in November 2020 by four CSOs: Africa Institute for Energy Governance (AFIEGO), Centre for Food and Adequate Living Rights (CEFROHT) from Uganda, Natural Justice (NJ) from Kenya, and the Centre for Strategic Litigation (CSL) from Tanzania.

The CSOs sought a permanent injunction to halt the construction of the pipeline in protected areas in Uganda and Tanzania, compensation for all project-affected persons (PAPs) for losses incurred due to land use restrictions.

The First Instance Division dismissed the case in November 2023, prompting the CSOs to immediately file an appeal in December 2023. This appeal was subsequently heard in Arusha and Kigali, Rwanda, in November 2024 and February 2025, respectively.

EACOP project

Costs overturned 

Crucially, while the Appellate Division upheld the dismissal, it overturned the order issued by the First Instance Division that had awarded costs to the governments of Uganda and Tanzania and the Secretary General of the EAC.

The judges directed that each party must bear its own costs, stating: “Taking into account the public interest involved in the appeal and the appellants’ public-spirited endeavor to ensure compliance with the treaty, we direct that each party shall bear their own costs in this court and in the trial.”

CSOs decry ‘disappointing decision’

The CSOs described the Wednesday ruling as a “disappointing decision,” arguing that the judges failed to consider when affected communities and CSOs actually became aware of the project’s impacts and the existence of the EACOP-related agreements, such as the Inter-Governmental Agreement (IGA) and Host Government Agreement (HGA), which were made public years after they were signed.

Dickens Kamugisha, CEO of AFIEGO, called the decision a “setback for regional justice” and protection of vulnerable communities.

“The decision has left over 331 million East Africans at the mercy of greedy corporations,” he stated, adding, “The ruling is a travesty, but we remain determined to use all available strategies to protect people and nature.”

Elizabeth Kariuki from Natural Justice emphasized the impact on the PAPs, saying, “This ruling is devastating for the very people whose lives have been upended by EACOP – the families that lost their land and livelihoods, and the communities watching their ecosystems disappear. Today, the court has closed its doors to them. But we will not give up. We will continue to fight alongside communities to ensure that their suffering is not ignored.”

MCosmas Yiga, a PAP from Uganda, expressed profound disappointment, saying, “We, the PAPs, have been oppressed, and we don’t expect any gain from the oil industry… Today is a sad day,” citing his refusal of a $2 million compensation offer for 58 mango trees.

The courtroom was packed with CSOs, PAPs, media, and a lawyer representing the Ugandan government, state attorney Ojambo Bichachi, who welcomed the decision. The CSOs noted that the Appellate Court of the EACJ is the final court and plan to consult with EACOP-affected people before announcing their next steps.

Source: The Observer

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EALA members renew push for unified sub-regional Agroecology Law during Mukono meeting.

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By Witness Radio Team.

The East African Legislative Assembly (EALA) has renewed its call for a unified regional agroecology policy and law, following a high-level capacity-building meeting held in Nakisunga Village, Mukono District, Uganda.

The gathering brought together more than 50 EALA members, over 100 participants, including civil society organizations (CSOs) representatives, agroecology experts, and officials from Mukono Local government, to discuss the gaps in existing regional frameworks and the urgent need for coherent legislation to support sustainable and climate-resilient farming systems.

The field tour of Nansubuga CEFROHT Agroecology Training Farm showcased successful organic farming practices, illustrating the benefits of agroecology firsthand to lawmakers and stakeholders.

“I’m amazed at how a local female farmer can transform non-fertile land into a productive farm,” said Hon. Fatuma Ndangiza of the EALA delegation from Rwanda. “Agroecology is about access, safe food, resilient and equitable food systems, and environmental friendliness. What we see here is the right path for our small-scale farmers.”

The proposed regional agroecology law aims to protect smallholder farmers like Nansubuga by safeguarding their seeds, reducing reliance on costly chemical inputs, and shielding them from land grabs, thereby directly enhancing their resilience and livelihoods.

Representing EALA Speaker Rt. Hon. Joseph Ntakirutimana, Hon. Gideon Gatpan Thoar, Chair of the EALA Committee on Agriculture, Tourism and Natural Resources, emphasized the urgency to put the Agroecology policy and law in place:

“There is no law protecting agroecology farmers like Nansubuga. Their seeds are not protected, and they face intense competition from corporate-backed industrial systems. This deserves urgent attention.”

He added that lawmakers’ mandate requires them to legislate in the interest of East Africans, most of whom are smallholder farmers, and that firsthand field experience will strengthen the upcoming model law.

“So now, with this experience, we can push for a regional policy that empowers agroecology farmers and fosters resilient agriculture. Supporting them can lead to a brighter future for East African farming,” He added.

Hon. Fatuma Ndangiza revealed that the agroecology bill could be ready within a year, pending adequate funding, offering hope that smallholder farmers will have access to supportive legislation.

“East Africa cannot build resilient food systems without a unified agroecology policy and law. This meeting is a big step toward drafting a model law that reflects the needs of our farmers. At least by the end of our mandate in 2027, we want this bill in place,” she said. “Members of the agriculture committee have already been trained in agroecology, and thanks to CEFROHT and other partners, even more lawmakers now appreciate the importance of this legislation. It will move quickly.”

Experts at the meeting highlighted systemic biases that keep East African farmers impoverished. These include a longstanding emphasis on export-oriented industrial agriculture, corporate-controlled seeds, increasing pesticide and fertilizer use, and land grabs.

Dr. Million Belay, General Coordinator of the Alliance for Food Sovereignty in Africa (AFSA), warned that Africa is being pushed into an unsustainable corner.

“One of the legacies of colonialism is pushing us to export food instead of feeding our people. Chemicals, GMOs, and land grabs are increasing, and global actors now control food production.

A farm like this one shows the direction we should take.”

He went on to say that proper food security and environmental health depend on farmers’ control over their land, seeds, and output-what we call food sovereignty-empowering farmers to shape their future.

As part of the capacity-building process, EALA members visited the CEFROHT Agroecology Learning Center, where they witnessed demonstrations of intercropping and crop diversification, agroforestry systems, animal husbandry, water and pesticide trapping, among others.

Dr. David Kabanda, whose organization, the Center for Food and Adequate Living Rights (CEFROHT), hosted the delegation, noted that farmers are already successfully practicing agroecology, demonstrating the tangible benefits of this approach.

“We are pleased to support lawmakers with evidence and field-level experiences. Agroecology is not theoretical; farmers are already practicing it successfully. It is what we advocate for, the production of good food as well as environmental conservation,” he added.

Looking ahead, EALA announced a series of concrete steps to advance the regional agroecology agenda. The assembly plans to complete the Agroecology Bill process within a year, then conduct public hearings across all eight EAC Partner States to gather stakeholder input. The bill will be fast-tracked for debate and approval in the EALA plenary, with civil society expected to help secure the Heads of State’s assent. Once adopted, the law will become the EAC Agroecology Act, guiding and harmonizing agroecology efforts across the region.

As climate shocks intensify and millions of families depend on smallholder farming, the Mukono meeting marks a turning point in East Africa’s pursuit of sustainable, resilient food systems. The push for a unified agroecology law signals a growing regional recognition that the future of East African agriculture must be farmer-centered, biodiversity-based, and rooted in local knowledge.

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East African lawmakers and CSO leaders are meeting in Uganda to draw up plans to promote Agroecology as an alternative to climate change mitigation.

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By Witness Radio team.

Mukono, Uganda — the East African Legislative Assembly (EALA) members and Civil society organizations (CSOs) leaders in Uganda are convening in Nakisunga, Mukono district today, 28th November, to discuss how to promote agroecology at the regional level and inspire a collective commitment to regional resilience.

Agroecology offers a robust, holistic approach to combating climate change by enhancing the resilience of food systems and reducing their environmental impact.

Spearheaded by the Center for Food and Adequate Living Rights (CEFROHT), the event emphasizes integrating agroecology into regional climate resilience strategies, especially as the East African Community (EAC) faces rising food costs, climate shocks, and declining soil health.

During the meeting, EALA members, together with CSOs, will explore how principles like crop diversification, soil regeneration, and community seed saving can directly improve smallholder farmers’ resilience and livelihoods, complemented by a hands-on field visit to the CEFROHT Agroecology Learning Center in Mukono.

The event has also occurred at a time when EALA is reviewing the East African Seed and Plant Varieties Bill, 2025, which is being criticized for undermining the role of smallholder farmers in seed saving, conservation, and the management of seed systems to promote healthy foods.

Players from CSOs include: Participatory Ecological Land Use Management (PELUM Uganda), Eastern and Southern Africa Small-scale Farmers’ Forum (ESAFF), Seed Savers Network Kenya, TABIO Tanzania, the Alliance for Food Sovereignty in Africa (AFSA), Slow Food Uganda, SEATINI, FIAN Uganda, and the Mukono District Local Government, among others.

The meeting will lay the groundwork for East Africa’s first Policy and Model Law on Agroecology, a long-awaited step toward sustainable and equitable agri-food systems that empower regional stakeholders to shape the future.

The event will be broadcast live on Witness Radio.

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