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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.
The Danish Government just announced the cancellation of the 8th North Sea licensing round, a ban on future offshore licencing (following an onshore ban in 2018), and a ban on all offshore production by 2050. Hannah McKinnon of Oil Change International responded as follows.
With the expected re-entry of the United States into the Paris Climate Agreement, the Biden administration is required to update the U.S. pledge for 2025 by formally submitting a 2030 pledge towards the global effort. To inform this contribution, U.S. Climate Action Network released an analysis of “fair share” country contributions with a particular focus on the United States.
Today development banks signed a joint declaration at the first global summit of development banks, Finance in Common. Before the summit, the UN Secretary General, youth climate activists, and over 300 civil society organisations all urged development banks to act to end fossil fuel investments. However, the joint declaration only includes a vague commitment to “consider” ways to reduce fossil fuel investments.
Stop the Money Pipeline, a coalition pushing financial institutions to end support for the fossil fuel industry, sent a letter to the Biden/Harris transition team urging strong climate action criteria regarding appointments to financial regulators and the Treasury Department.
Despite repeated pledges to end inefficient fossil fuel subsidies, G20 governments’ support to fossil fuels has dropped by only 9% since 2014–2016, hitting USD 584 billion annually over the last three years, according to a report released today by the International Institute for Sustainable Development (IISD), the Overseas Development Institute (ODI), and Oil Change International (OCI).