To have any hope of meeting globally-agreed climate goals, global financial flows must rapidly align with low-emission, climate-resilient development, and government-backed public finance institutions like the World Bank must signal this transition.
Briefings
Burning the Gas ‘Bridge Fuel’ Myth
This analysis provides five clear reasons why fossil gas is not a “bridge fuel.” It shows that even with zero methane leakage, gas is not a climate change solution.
What’s the plan?
Why we can’t hide from the discussion about a managed decline of fossil fuel production. It is clear that the end of the fossil fuel era is on the horizon. Between plummeting renewable energy costs, uncharted electric vehicle growth, government commitments to decarbonization enshrined in the Paris agreement, and a growing list of fossil fuel … Read More
Expanding Subsidies for CO2-Enhanced Oil Recovery: A Net Loss for Communities, Taxpayers, and the Climate
This analysis explores the oil production, carbon emissions, and taxpayer cost implications of the proposed changes to Section 45Q in the U.S. tax code in S.1535 and H.R.3761.
Financing Climate Disaster: How Export Credit Agencies Are a Boon for Oil and Gas
The U.S. Export-Import Bank (USEXIM) is the third-largest supporter of fossil fuels among all G20 countries, according to a new report out today from Oil Change International, Friends of the Earth U.S., and WWF’s European Policy Office.
Cross Purposes: After Paris, Multilateral Development Banks Still Funding Billions in Fossil Fuels
A new report shows how multilateral development banks, including the World Bank, gave over $9 billion in funding for fossil fuel projects in 2016, nearly all of it following the Paris Agreement being reached and despite claims that they were acting on climate and adjusting their investment strategies.
Dirty Energy Dominance: Dependent on Denial – How the U.S. Fossil Fuel Industry Depends on Subsidies and Climate Denial
A new report by Oil Change International reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. Every dollar spent subsidizing this industry takes us further away from achieving internationally agreed emissions goals, and maintaining a stable climate.
Saudi Aramco’s IPO: A Test of whether Investors Are Serious about Climate
Download the briefing – Overheated Expectations: Valuing Saudi Aramco’s IPO in light of climate change Written and researched by Greg Muttitt and Hannah McKinnon. See Financial Times article on our report. Coming two years after the Paris Agreement, the initial public offering (IPO) of Saudi Aramco will be strongly shaped by climate change. Most analysts believe … Read More
Talk is Cheap: How G20 Governments are Financing Climate Disaster
Each year, G20 countries provide nearly four times more public finance to fossil fuels than to clean energy. In total, public fossil fuel financing from G20 countries averaged some $71.8 billion per year, for a total of $215.3 billion in sweetheart deals for oil, gas, and coal over the 2013-2015 timeframe covered by the report. Fifty percent of all G20 public finance for energy supported oil and gas production alone.
Reality Check: The End of Growth in the Tar Sands
Oil Change International June 2017 Download the PDF Briefing. The Alberta tar sands are among the world’s largest oil reserves. While investment and expected growth in the industry have been high for the last decade, new industry data paints a dramatically different picture of the sector moving forward. Key findings: Anticipated tar sands production growth is … Read More