As California Governor Jerry Brown prepares to host a global summit aimed at rallying bolder climate action, a new report out today details how the state can and must initiate a managed phase-out of its own oil production to fulfill its commitment to the Paris climate goals.
Today, close to 500 organizations and 140 leading economists are calling on parties gathered for the latest round of climate negotiations to address fossil fuel production and financing in order to ensure success in meeting goals enshrined in the Paris Climate Agreement.
FOR IMMEDIATE RELEASE April 16, 2018 US Commercial Banks In For a Spring of Fossil Fuel Resistance US commercial banks are gearing up for their annual general meetings, starting as early as this week, but they’re not alone in making plans for AGM season. A growing number of concerned communities and organizations are planning a … Read More
FOR IMMEDIATE RELEASE April 12, 2018 US Bank Raises $2 Billion in Oil and Gas Pipeline Finance Since Pledge to Stop Pipeline Financing Since revising its environmental policy last year, US Bank financed more than $2 billion to companies building oil and gas pipelines, including an estimated $480 million to Energy Transfer Partners, new analysis … Read More
Through its energy forecasts, the International Energy Agency (IEA) has been guiding governments towards energy decisions that are inconsistent with the goals of the Paris Climate Agreement, new research has found.
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew by 111% from 2016 to 2017.
Today, Shell released a new scenario which outlines a possible energy future for the world involving massive negative emissions. In response, Greg Muttitt commented, “The lesson is simple: If you want to know how to fix climate change, don’t ask a company that wants to sell you more oil and gas.”
This new investor briefing examines the current state of the Keystone XL pipeline and the legal, regulatory, and political obstacles that its owner TransCanada continues to face.
Trump’s infrastructure scam is all about greasing the wheels for oil, gas and coal development and his budget funds this massive giveaway. ‘Streamlining’ critical environmental review really means steamrolling landowners and putting a muzzle on communities when they resist oil and gas pipelines being built through their backyards for private profit.
“It’s cynical and reckless to provide relief for climate-related disasters with one hand, while essentially paying Big Oil to worsen the climate crisis with the other. Transferring billions of dollars from hard-working taxpayers to ultra-rich oil companies to extract more fossil fuels will not make our country safer or stronger.”