Ceres principles risk eradicating progress on net-zero norms

June 27, 2023By David TongBriefings, Global Industry, Industry Updates, Research & Opinions

US non-profit Ceres has produced a paper aimed at explaining actions that oil and gas exploration and production companies (E&Ps) can take to reduce their emissions. It is also supposed to provide useful information on climate alignment to the sector’s investors and bankers.

The paper suffers from a number of alarming weaknesses which threaten to reverse progress on setting standards for net-zero finance. Consequently, Reclaim Finance, Oil Change International, urgewald, CIEL, and Stand.Earth have jointly published this analysis in response.

Zeroing In: A guide for the finance sector on the IEA’s Net Zero Emissions scenario and its implications for oil and gas finance

February 9, 2022By David TongBriefings, Energy Transitions & Futures, News, Resources 2 Comments

This briefing gives financial institutions an overview of the IEA’s first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA’s conclusion about ending new oil and gas field development is not a product of scenario design; it’s the arithmetic of 1.5°C.

Oil and Gas News & Insights: Week of 8 June 2020

June 12, 2020By David TongBlack Lives Matter, Blog Post, Energy Transitions & Futures, Newsletter

Oil Change International is producing weekly news and resources updates for allies as part of our response to the COVID-19 crisis. These supplement the monthly OilWire editions that we produce with the Global Gas and Oil Network. Subscribe here to get the monthly OilWire bulletin. OilWire update: 12 June 2020 BLACK LIVES MATTER The uprisings against police violence … Read More

Putting clean energy stimulus at the heart of IEA analysis?

March 26, 2020By David TongBlog Post, Energy Transitions & Futures

People all over the world are facing unprecedented crises from COVID-19. These tragic impacts will be the deepest in the world’s most vulnerable communities, regions and countries. IEA director Dr. Fatih Birol has urged governments worldwide to place clean energy at the heart of stimulus. Here Dr. Birol is right – but making this clean energy call count with real ambition is critical if the IEA wants to shake its reputation as a shill for the fossil fuel sector.