A new study released by Oil Change International examines the role of Danish oil and gas production in a Paris-aligned global carbon budget. The report confirms that while Denmark has positioned itself as a global climate leader, its plans to expand North Sea oil and fossil gas extraction would undermine its record of climate action and would be incompatible with achieving its Paris climate commitments.
G20 governments continue to provide billions of dollars for the production and consumption of fossil fuels. This report finds that they provide at least USD $63.9 billion per year in government support to the production and consumption of coal alone, with almost three-quarters of the support identified being directed to coal-fired power production.
Less than 24 hours after declaring a national climate emergency, the Trudeau government approved the Trans Mountain pipeline expansion project (TMX). Our response.
A new analysis released today highlights how European Investment Bank (EIB) financing of fossil fuel projects – in particular gas pipelines and LNG terminals – is not compatible with EU climate commitments or the aims of the Paris Agreement.
There is no room for further financing of fossil gas or any other fossil fuel projects by the EIB. This briefing calls for the new Energy Lending Policy to reflect this reality. The EIB cannot claim to uphold its commitment to align its finance with the Paris Agreement if it continues to finance fossil gas projects.
We’re glad to hear that the IEA is starting to respond to the growing demands from business leaders, government leaders, and civil society members to align its scenarios with Paris. However, the devil is in the details as to whether or not such a scenario from the IEA should earn our applause, and we must withhold judgment until more details are released.
This report unpacks and debunks the enduring myth that gas can form a bridge to a decarbonized future. As the global crisis intensifies while the production and consumption of gas soars, it is clearer than ever that gas is not a solution to the climate crisis.
This new report reveals, for the first time, the climate impact of North Sea oil and gas extraction, and shows the way to a job-creating energy transition. To deal with the climate emergency, the UK needs to immediately stop approving new oil and gas drilling and redirect support to clean jobs and renewable energy.