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.
Press Releases
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.
Briefing: Overseas players should not dominate distributed renewable energy sector in Africa
A new briefing released by Oil Change International details how the growth of distributed renewable energy in Africa has so far failed to include locally-owned companies and initiatives. The sector has been growing rapidly since 2013 — especially for companies focused on “pay-as-you-go” solar home systems — but finance has overwhelmingly only been accessible for multinational companies that are based in Europe or North America or led by entrepreneurs from these regions, meaning profits are largely not remaining in Africa.
Campaigners: G20 financial and political support for fossil fuels rises amidst COVID-19 crisis
Grassroots campaigners at a press briefing yesterday said political leaders are failing to ensure a just and sustainable recovery, as new data shows that the world’s 20 richest countries have committed more than USD 150 billion of public money to support fossil fuels since the start of the COVID-19 crisis.
G20 Governments Have Committed USD 151 Billion to Fossil Fuels in COVID-19 Recovery Packages
Data made public today on the Energy Policy Tracker, a new website tracking climate- and energy-related recovery policies, shows a total commitment of at least USD 151 billion from G20 governments in support of fossil fuels.
Report: The Netherlands fails to meet 2020 deadline for ending fossil fuel subsidies
Amidst a climate crisis and global pandemic, a new analysis from Friends of the Earth Netherlands and Oil Change International reveals that the Dutch government continues to provide billions — at least €8.3 billion per year — in taxpayer backed support for the production and use of fossil fuels. By ending fossil fuel subsidies, the Netherlands could free up resources to invest in a just and green recovery from COVID-19, whilst reducing greenhouse gas emissions by 7.7% by 2025.
Oil Change International Response to Atlantic Coast Pipeline Cancellation
ACP’s cancellation is the exception that proves the rule. The truth is that fossil fuel companies have worked with federal agencies to permit dozens of projects across the U.S. by ignoring and circumventing laws that protect communities and natural resources and placing corporate profits above all else.
Oil Change International Response to Dakota Access Pipeline Shutdown
Federal and state agencies can no longer allow the oil and gas industry to run roughshod over the law, the rights of Indigenous communities, and future generations’ right to a stable climate.
Oil Change International Response to IEA Sustainable Recovery Report
In response to the new report released today by the International Energy Agency (IEA), experts at Oil Change International have issued the following statement: “The IEA again misses the mark where it matters the most, completely ignoring the link between sustainable recovery and staying within 1.5°C of warming. Nowhere in the report is there mention of the critical 1.5-degree warming limit, let alone analysis of what’s needed for a recovery plan to be fully aligned with it.”