Banking on Climate Change 2020: Fossil Fuel Finance Report Card

March 18, 2020By OCI TeamReports, Stop Funding Fossils No Comments

A new report, Banking on Climate Change 2020, reveals that 35 private-sector banks across Canada, China, Europe, Japan, and the U.S. have financed fossil fuels with USD $2.7 trillion since the Paris Agreement was adopted (2016-2019), with financing on the rise each year.

The report finds that fossil fuel financing continues to be dominated by the big U.S. banks – JPMorgan Chase, Wells Fargo, Citi, and Bank of America – together, these four banks account for a staggering 30% of all fossil fuel financing from the 35 major global banks since the Paris Agreement was adopted.

Briefing: Carbon Impacts of Reinstating the U.S. Crude Export Ban

January 28, 2020By OCI TeamBriefings, Stopping Carbon Lock-In 1 Comment

The next president and Congress should reinstate the crude export ban in tandem with policies to ensure a just and equitable transition away from fossil fuels. A reimplementation of the ban would therefore require an ambitious and well-funded energy policy to prioritize justice and equity for workers and frontline and Indigenous communities in the necessary transition away from fossil fuels.

The Sky’s Limit Denmark: Why Denmark Must Phase Out North Sea Oil and Gas Extraction

September 19, 2019By OCI TeamEnergy Transitions & Futures, Reports

A new study released by Oil Change International examines the role of Danish oil and gas production in a Paris-aligned global carbon budget. The report confirms that while Denmark has positioned itself as a global climate leader, its plans to expand North Sea oil and fossil gas extraction would undermine its record of climate action and would be incompatible with achieving its Paris climate commitments.