Explainer: What the COP26 and G7 promises to stop funding fossils in 2022 mean for climate and communities

July 28, 2022By Oil Change InternationalBlog Post, Stop Funding Fossils 1 Comment

39 countries and institutions signed a joint commitment to end any support for fossil fuels flowing abroad by the end of 2022, and in its place prioritize finance for clean energy. Recently the G7 reaffirmed their commitment and were now also joined by Japan, the only G7 member who hadnā€™t signed on. Here’s what that means.

Updated analysis reveals oil industry climate plans are grossly insufficient to achieve Paris Climate Goals

May 24, 2022By Oil Change InternationalFeatured, Press Releases

The report finds the oil and gas majors are involved in over 200 expansion projects on track for approval from 2022 through 2025. If they go forward, these companiesā€™ investments could create an additional 8.6 billion tonnes (Gt) of carbon pollution ā€“ equivalent to the lifetime emissions of 77 new coal power plants.

Study: Existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C, findings show

May 17, 2022By Oil Change InternationalBlog Post, News, Press Releases

A new peer-reviewed study published in Environmental Research Letters finds that existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C. The study, led by researchers at Oil Change International and the International Institute for Sustainable Development, finds that nearly 40% of developed fossil fuel reserves need to stay in the ground to keep the 1.5Ā°C limit in reach.

We just launched a database to expose the institutions using our money to fund fossils

April 28, 2022By Oil Change InternationalBlog Post, Research & Opinions, Stop Funding Fossils 2 Comments

Public Finance for Energy Database tracks all energy-related transactions from G20 bilateral development finance institutions (DFIs), G20 export credit agencies (ECAs), and the major multilateral development banks (MDBs). This includes 14,000 transactions going back as far as 2008 and totaling nearly $2 trillion.