“A managed decline of oil and gas production that supports affected communities and workers must be central in a just and green recovery from the COVID-19 crisis,” said ver der Burg.
A new briefing from Oil Change International argues for a managed decline of the oil and gas sector as an essential part of recovery from the COVID-19 crisis.
Environmentalists are blasting attempts by oil and gas companies to hijack the Fed’s Main Street Lending Program in order to pay down their debt — debt that began skyrocketing long before the coronavirus impacted the industry.
Indigenous, community, and conservation groups today called on New Mexico’s congressional delegation to oppose bailing out fossil fuel companies with emergency aid during the coronavirus pandemic, and to focus all support on vulnerable communities.
That today’s announcement does not include most of the industry’s wish list is credit to massive public outcry.
This Earth Day, activists will turn up the heat on Wall Street through mass online actions. Organizers say the need to pressure Wall Street to stop funding polluters and start supporting communities is more important now than ever.
Sumitomo Mitsui Financial Group announced it will “in principle” not finance any new coal power projects, while advocates in California called on the bank to apply those restrictions to all new coal infrastructure and drop plans to finance a widely opposed coal export terminal.
The only path to climate stability is for governments to manage a stable decline in oil while investing in a just transition for workers and currently fossil-fuel dependent communities.
In anticipation of yet another announcement released by the G20 and OPEC+ today, experts at Oil Change International have issued the following statements.
“Allowing private banks to start an unholy marriage with bankrupt fossil fuel companies would be a catastrophic mistake for communities and climate,” said Collin Rees