On Thursday, September 16th, Ministers from Denmark and Costa Rica will announce they will form the Beyond Oil and Gas Alliance (BOGA). BOGA is a diplomatic initiative bringing together countries and jurisdictions that have ended licensing for new oil and gas exploration and production and are setting an end date for their production.
Energy Transitions & Futures
Watershed: The Turning Point for North Sea Oil & the Just Transition
Released ahead of crucial UN climate talks in Glasgow, Scotland, this report examines why UK and Scottish Government policy to maximise oil and gas extraction from the North Sea is incompatible with stated commitments to the Paris Agreement goal of limiting dangerous warming to 1.5 degrees Celsius (ºC).
Unused Tools: How Central Banks Are Fueling the Climate Crisis
There is growing recognition that central banks must act to confront the climate crisis. They have the tools to catalyze and accelerate the end of financing for fossil fuels – through monetary policy, regulatory action, and excluding fossil fuel assets from their own portfolios. But, with only limited exceptions, they are not using these tools. This report identifies 10 criteria for assessing central banks against the Paris Agreement’s objective, and applies them to assess 12 major central banks.
Big Oil’s terrible, horrible, no good, very bad week
It has been a terrible, horrible, no good, very bad week or so for Big Oil…and that’s a very good thing for our climate. Let’s recap: Last week, the International Energy Agency released the groundbreaking “Net Zero by 2050” report, which they described as “world’s first comprehensive study of how to transition to a net zero … Read More
Net Zero Producers Forum: A catalyst for climate ambition or yet another delaying tactic?
The creation of the NZPF is a tacit recognition by major oil and gas producers that their contribution to the climate crisis can no longer be ignored. But the framing of the initiative and its main objectives raise the prospect of the NZPF being a greenwashing tool in service to the oil and gas industry’s interests.
IEA’s first 1.5°C model closes the door on new fossil fuel extraction
The IEA has consistently boosted new oil and gas development. Now it’s backing up the global call to stop the expansion of fossil fuel extraction.
Spain becomes latest country to ban new oil and gas exploration and production
Yesterday, the Spanish Parliament adopted a wide-ranging Climate Change and Energy Transition law, which includes a ban on new fossil fuel exploration and production licenses.
New CA100+ Benchmarks Reconfirm: The oil and gas industry is failing to act credibly on climate
“This analysis reconfirms the obvious. No Big Oil and Gas company has a serious plan to wind down its fossil fuel operations at a pace that comes anywhere close to aligning with the critical 1.5-degree limit.”
Getting On Track to 1.5°C: The IEA’s Opportunity to Steer Investments towards Success in Meeting the Paris Goals
The IEA has a crucial opportunity in 2021 to guide the world towards 1.5°C-aligned energy investment. We outline crucial steps the IEA must take to get on track.
Report: the Network for Greening the Financial System (NGFS) must revise its climate scenarios to drive decarbonization in the financial sector
In a new paper published today, Oil Change International (OCI) and Reclaim Finance analyze the shortcomings of the climate scenarios published by the NGFS and highlight the risk that they may be used to justify slow and inadequate climate action by financial actors.