Insurers must end all support for new oil and gas projects in order to meet international climate targets, NGOs supporting the Unfriend Coal / Insure Our Future campaign say in a letter to CEOs released today.
This is a big moment for Big Oil. Climate reality has finally caught up with BP’s corporate dreamland that it could carry on drilling forever.
Even before the current COVID-19 crisis, coal was in trouble due to its high carbon content, coupled with high costs. But COVID-19 is accelerating that decline. And once coal is gone, it is not coming back.
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 and white supremacy sparked by the murders of George Floyd, Ahmaud Arbery, Breonna Taylor, Nina Pop, Tony McDade, and countless other Black people are disrupting business as usual in the United States and around the globe. These murders result from systems of white supremacy and institutional racism that