The Endgame: Who Pays for the Fossil Fuel Exit?
Momentum behind a fossil fuel phase-out has grown significantly in recent years, yet agreement on the destination has often outpaced agreement on the pathway. While many governments, investors, and institutions now acknowledge the need to reduce dependence on fossil fuels, difficult questions remain about timing, responsibility, financing, and fairness.
This discussion will explore what a responsible and equitable fossil fuel exit could look like in practice. Participants will examine the role of financial institutions, investors, governments, and civil society in accelerating the transition while managing its economic and social consequences. The conversation will also consider how capital can be redirected away from fossil fuel expansion and toward the investments needed to support workers, communities, and economies through a period of profound change.
At the heart of the discussion is a challenge that extends beyond energy policy. Different countries and communities enter the transition from very different starting points, with varying levels of dependence on fossil fuel revenues, employment, and energy systems. How should the costs, risks, and opportunities of transition be shared? What constitutes a ""just"" or ""responsible"" exit, and how can those principles be translated into financial and political decisions?
As debates over fossil fuel phase-out move from aspiration to implementation, the focus is increasingly shifting from whether the transition should happen to how it happens—and who bears the costs of getting there. This conversation matters now because the credibility of climate action may depend as much on managing the exit as accelerating the alternative.
Discussion Group Leaders
Dearbhla Richardson is Europe Campaigner | Ireland Policy and Advocacy Lead at The Fossil Fuel Treaty Initiative, advancing policies and advocacy for a global transition away from fossil fuels.
Holly Tomlinson is Policy Advisor - UK Fossil Fuel Phase Out at LINGO - Leave it in the Ground, advancing policies that reduce financial support for new fossil fuel expansion.
Victoria Elizabeth Whalen is Project Manager at Future Generations Tribunal, advancing environmental justice, climate accountability, and the rights of future generations through advocacy and storytelling.
Discussion Questions
What would a responsible and equitable fossil fuel phase-out look like across countries with very different economic, energy, and development realities?
How can financial institutions move beyond commitments and meaningfully shift capital away from fossil fuel expansion while supporting a just transition?
Who should bear the costs and risks associated with the fossil fuel transition, and how should those responsibilities be allocated?
What policies, financial mechanisms, and governance approaches are needed to translate principles of climate justice into practical transition strategies?