New analysis by 350.org shows that people and businesses will continue to pay a steep price for fossil fuel dependence, even if the Strait of Hormuz fully reopens and remains so. According to 350.org calculations, an estimated $374bn has already been transferred from households and businesses to the oil and gas industry through higher prices.
The new plan, the first update since 2008, sets out Brazil’s pathway to cut emissions by up to 67% by 2035 and reach net zero by 2050, with a continued focus on ending deforestation, a major driver of emissions in the Amazon. However, campaigners say the plan lacks the ambition needed to rapidly transition away from oil, gas and coal, particularly as Brazil remains one of the world’s top emitters.
The ADB must redirect its investments toward these climate solutions centered on people and ecological integrity, not profit.
The impacts of building the East Africa Oil Pipeline will be devastating for our communities, for wildlife and for the planet.
