After promise to stop funding fossil fuel, UK plans to explore oil and gas production in Brazil

Host of COP 26, that will happen in November, the United Kingdom announced last year that investment in overseas oil, gas or coal export or production projects would be brought into a halt until the conference date. However, a survey by the SourceMaterial group revealed that the country, through the state-owned credit agency UK Export Finance, is considering supporting 17 fossil fuel projects that could be completed by July, including in Brazil, The Telegraph reported. “In recent years, the UK government has already used billions of pounds of taxpayers’ money to fund fossil fuel projects around the world. It would make no sense to rush to hand out a few more million just before these subsidies are banned and before a major climate summit,” said John Sauven, executive director of Greenpeace UK.

According to the article, one of the Brazilian developments that may receive support from the UK will produce over 2 million tons of CO2 per year in its construction and operation alone. The information was also echoed in the daily bulletin of the ClimaInfo portal, dedicated to climate change.