NGOs reveal the companies and financiers behind fossil fuel expansion in Africa

Berlin/Sharm El-Sheikh, November 15th, 2022

Oil, gas and coal companies are exploring or developing new fossil fuel reserves in 48 African countries.
89% of new LNG capacity in Africa is planned for export.
International investors hold over US$ 109 billion in companies driving fossil fuel expansion in Africa.

At the UN Climate Summit today, Urgewald, Stop EACOP, Oilwatch Africa, Africa Coal Network, 33 further African NGOs and BankTrack released the Report “Who is Financing Fossil Fuel Expansion in Africa?” The report identifies 200 companies that are exploring or developing new fossil fuel reserves or developing new fossil infrastructure such as liquefied natural gas (LNG) terminals, pipelines or gas and coal-fired power plants in Africa.

https://mailchi.mp/banktrack/ngos-reveal-the-companies-and-financiers-behind-fossil-fuel-expansion-in-africa

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