Italian government decided to continue in persevering in finance the fossil fuel industry
23 Mar 2023

Italy will continue to subsidise the fossil fuel industry


The Italian government united with SACE (Servizi Assicurativi del Commercio Estero), published a climate committee with which they renew public funding to the fossil fuels industry. Despite, during the COP26, Italy and other 38 countries, have signed the Glasgow Statement: a voluntary pledge to ending international public funding of fossil fuels by 31 December 2022.
Through this new climate policy Italy and SACE have decided to continue their investments to coal, oil and gas projects abroad until at least 2028. In particular, the policy will support the continuing of gas extraction until 2026, oil distribution until 2028, and oil transportation and refining until 2024.

READ THE PRESS RELEASE published by our Centre of Excellence Jean Monnet on Climate Justice

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