Press release from the Fossil Fuel Treaty Initiative

Military spending has been increasing for more than a decade, reaching US$2.7 trillion in 2024 and US$2.88 trillion in 2025. Meanwhile, there is a US$4 trillion dollar shortfall in funding needed to achieve the world’s Sustainable Development Goals and of that, a US$2 trillion funding gap for climate and energy transition action. Militarism, climate change and environmental destruction are interconnected crises.  Addressing these risks requires redirecting funding away from war towards global climate justice with transitioning away from fossil fuels as a core tenant of a reallocation framework via a Fossil Fuel Treaty.