Finance and LFFU

Financial actors play a key role in the fossil fuel sector and thus can be expected to play a role to reduce greenhouse gas emissions. This chapter focuses on global actors such as investors and producers and their relations with the Global South. It examines philanthropic foundations, pension funds, investor initiatives and export credit agencies. Our research shows that although these actors have a critical role, they are not taking any meaningful action through LFFU. Although divestment is underway, it is doubtful if that leads to LFFU as new shareholders emerge. In the meanwhile, for a long time, the export credit agencies have been financ­ing fossil fuel projects in developing countries and have only recently committed to phasing that out.