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Ending international fossil fuel finance: Lessons from the Clean Energy Transition Partnership

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  • Morgan, Brett
  • MacNeil, Robert

Abstract

This brief analysis examines the Clean Energy Transition Partnership (CETP) established at COP26, which aims to end public finance for international fossil fuel projects. While the CETP has corresponded with a reduction in foreign fossil fuel investment from its signatories, we argue that the partnership maintains key shortcomings, including the continuity of massive domestic fossil fuel subsidies within wealthy signatory countries. Using Australia as the stand-out example, our analysis highlights the paradoxical nature of this situation, and concludes by advocating for the CETP to include the elimination of domestic finance in its remit to ensure a genuine commitment to a global clean energy transition.

Suggested Citation

  • Morgan, Brett & MacNeil, Robert, 2025. "Ending international fossil fuel finance: Lessons from the Clean Energy Transition Partnership," Energy Policy, Elsevier, vol. 204(C).
    • Handle: RePEc:eee:enepol:v:204:y:2025:i:c:s0301421525002010
    DOI: 10.1016/j.enpol.2025.114694
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    References listed on IDEAS

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    1. Schuetze, Benjamin & Hussein, Hussam, 2023. "The geopolitical economy of an undermined energy transition: The case of Jordan," Energy Policy, Elsevier, vol. 180(C).
    2. Robin D. Lamboll & Zebedee R. J. Nicholls & Christopher J. Smith & Jarmo S. Kikstra & Edward Byers & Joeri Rogelj, 2023. "Assessing the size and uncertainty of remaining carbon budgets," Nature Climate Change, Nature, vol. 13(12), pages 1360-1367, December.
    3. Jakob Skovgaard & Harro van Asselt, 2019. "The politics of fossil fuel subsidies and their reform: Implications for climate change mitigation," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 10(4), July.
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    1. Pansong Jiang & Donglan Zha & Qian Chen & Jaume Freire González, 2026. "The Carbon Rebound Challenge: Evaluating the Mitigation Effect of Fossil Fuel Subsidy Removal in Chinese Households," Working Papers 1561, Barcelona School of Economics.

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