In the Face of COVID-19, Governments Have a Choice: Resilient Societies or Fossil Fuel Bailouts?

April 22, 2020By OCI TeamBriefings, Stop Funding Fossils

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.

Banking on Climate Change 2020: Fossil Fuel Finance Report Card

March 18, 2020By OCI TeamReports, Stop Funding Fossils

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.

IEA scenarios may not stand the test of climate litigation: Dutch Supreme Court ruling (Shell should pay attention)

January 22, 2020By Hannah McKinnonBlog Post, Energy Transitions & Futures, Featured, News, Stop Funding Fossils

By Laurie van der Burg As the climate crisis wreaks havoc across the globe and we enter a decade that will make or break our ability to limit warming to 1.5°C, Big Oil continues to use the International Energy Agency’s (IEA) dangerous scenarios to justify major new investments in oil and gas, including in court. … Read More