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Oil Change International is a research, communication, and advocacy organization focused on exposing the true costs of fossil fuels and facilitating the coming transition towards clean energy.
Today, alongside its second-quarter results, BP announced that it will cut oil and gas extraction — excluding its major share in Russian oil giant Rosneft — by 40% by 2030.
In a letter to the Federal Reserve, 69 organizations called on the Fed to stop purchasing corporate debt from the fossil fuel sector through its COVID-19 emergency facilities.
For the UK to be credible as a COP26 host, it should end all overseas and domestic finance and subsidies for oil and gas production. Emissions from oil, gas and coal in already-operating fields and mines globally will push the world far beyond 1.5°C of warming.
A new briefing released by Oil Change International details how the growth of distributed renewable energy in Africa has so far failed to include locally-owned companies and initiatives. The sector has been growing rapidly since 2013 — especially for companies focused on “pay-as-you-go” solar home systems — but finance has overwhelmingly only been accessible for multinational companies that are based in Europe or North America or led by entrepreneurs from these regions, meaning profits are largely not remaining in Africa.
Grassroots campaigners at a press briefing yesterday said political leaders are failing to ensure a just and sustainable recovery, as new data shows that the world’s 20 richest countries have committed more than USD 150 billion of public money to support fossil fuels since the start of the COVID-19 crisis.