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.
Press Releases
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.
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.