A new report by Oil Change International and Rainforest Action Network (RAN) shows how major banks have continued pouring money into fracking companies in recent years despite numerous warnings that the sector was financially unsustainable — on top of the well-documented environmental, health and climate impacts of the industry.
Press Releases
Last Chance Alliance: California Governor Newsom’s Executive Order on Climate Is Missing Action on Oil
The Last Chance Alliance coalition pointed out that while Newsom’s announcement was commendable on some accounts, its failure to commit to a phase-out of oil production and a clear just transition policy to support workers and communities makes the order falls short.
Big Oil Reality Check: New paper finds ‘failure across the board’ in oil industry climate plans
A new comprehensive analysis released today shows that not a single climate plan released by a major oil company comes close to aligning with the urgent 1.5ºC global warming limit.
Reps. Schakowsky, Barragán Introduce Legislation to End Fossil Fuel Expansion and Protect Communities
Reps. Jan Schakowsky (D-IL) and Nanette Diaz Barragán (D-CA) introduced the Future Generations Protection Act to help ensure a rapid shift to clean renewable energy by stopping further expansion of fracking and new fossil fuel infrastructure.
Global Climate Groups Issue Guidance to Financial Institutions on Aligning with Paris Agreement Goals
A global set of 60 climate and rights groups has issued a set of “Principles for Paris-Aligned Financial Institutions” to offer a roadmap for the decarbonization of the finance sector on a timetable aligned with the Paris Agreement.
Over 43,000 Demand Feds Reject Fracked Gas Mountain Valley Pipeline Permit Extension
Water and climate advocacy organizations submitted comments and signatures from more than 43,000 people demanding that the Federal Energy Regulatory Commission (FERC) deny the fracked gas Mountain Valley Pipeline more time to construct the pipeline.
Stop the Money Pipeline: Financial Regulators Must Do More to Address Climate Risk
The Commodity Futures Trading Commission issued its report on the risks that the climate emergency poses to the financial system. Stop the Money Pipeline partners issued the following responses.
Oil Change International response to BP’s new commitment to major cuts in extraction by 2030
Today, alongside its second-quarter results, BP announced that it will cut oil and gas extraction — excluding its major share in Russian oil giant Rosneft — by 40% by 2030.
Sixty-Nine Organizations Tell the Federal Reserve to Stop Buying Fossil Fuel Debt
In a letter to the Federal Reserve, 69 organizations called on the Fed to stop purchasing corporate debt from the fossil fuel sector through its COVID-19 emergency facilities.
Statement: UK’s overseas finance for fossil fuels should not leave any loopholes
For the UK to be credible as a COP26 host, it should end all overseas and domestic finance and subsidies for oil and gas production. Emissions from oil, gas and coal in already-operating fields and mines globally will push the world far beyond 1.5°C of warming.