The current crisis is a clear warning sign that, if governments leave the “when” and “how” of the end of oil and gas up to tumultuous markets, the outcome will not be good for either people or the planet.
Resources
In the Face of COVID-19, Governments Have a Choice: Resilient Societies or Fossil Fuel Bailouts?
The COVID-19 crisis poses a threat to people’s health, their jobs and their lives, and like all crises, exacerbates already existing inequalities. Trillions in public finance will be needed to get through the current pandemic. This briefing outlines why continuing to rely on fossil fuels, in particular oil and gas, is not compatible with long-term recovery. It does not make sense to use the COVID-19 stimulus packages to try to revive a sunsetting industry which will not deliver on economic recovery, only to shut it down a few years later to meet climate goals.
Still Off Track: How the IEA’s 2019 World Energy Outlook Undermines Global Climate Goals
This briefing provides a technical analysis of how the International Energy Agency’s (IEA) 2019 World Energy Outlook (WEO) continues to steer governments and investors off track in tackling the climate crisis.
Discussion Paper: The Case for Public Ownership of the Fossil Fuel Industry
The U.S. government should acquire ownership and control over fossil fuel companies to safeguard workers, avoid taxpayer-funded bailouts, restore communities, save taxpayer dollars, and ensure an eventual managed phase-out of coal, oil, and gas production.
Banking on Climate Change 2020: Fossil Fuel Finance Report Card
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.
Drilling Towards Disaster: New Mexico’s Oil & Gas Boom Undermines the State’s Climate Goals
A new briefing finds that New Mexico cannot meet its commitment to global climate goals if it allows a massive expansion in oil and gas production.
Communiqué of the 2020 Africa Energy Leaders Summit
In January 2020, organizations, networks and community resistance groups from Africa and around the world deliberated on issues including fossil fuels dependence, climate change, energy access and the just transition. Following two days of discussions, they released the following communiqué.
Adding Fuel to the Fire: Export Credit Agencies and Fossil Fuel Finance
This report from Oil Change International and Friends of the Earth U.S. shows that since the Paris Agreement was made, G20 countries have used their export credit agencies to provide nearly 12 times more finance to fossil fuels than to clean energy.
A Giant Step Backward: Carbon Impact of the Line 3 Pipeline
As Minnesota decides whether to let the crude oil pipeline cross its cleanest waters, a new report finds that greenhouse gas emissions from Canadian oil company Enbridge’s proposed Line 3 expansion would vastly outweigh planned reductions in the state’s emissions.
Briefing: Carbon Impacts of Reinstating the U.S. Crude Export Ban
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.