Yesterday, the Spanish Parliament adopted a wide-ranging Climate Change and Energy Transition law, which includes a ban on new fossil fuel exploration and production licenses.
“California is the highest-producing jurisdiction in the world so far to commit to a phase-out of oil extraction, and other major producers need to join the state in committing to move beyond oil and gas,” said Collin Rees of Oil Change International.
Rich countries at this week’s Climate Summit need to take decisive action to stop the expansion of oil and gas production, both at home and abroad, both to protect the global climate and local communities. True climate leadership means breaking away from destructive oil and gas and investing in real solutions and green jobs that will help people and the planet thrive.
In response to the launch of a new Export Finance for the Future coalition (E3F), 21 CSOs from 14 countries released a statement criticizing the lack of ambition from the coalition.
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.
As governments begin to unveil trillions of dollars in recovery support and stimulus, now is the time to break old habits – such as the USD 77 Billion in public money that the G20 is still spending annually to finance oil, gas, and coal projects.
Spain’s supply-side measures are an important signal that climate leadership needs to be defined by a willingness to address the root causes of fossil fuel lock-in.
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.
Later this year, OPEC will mark its 60th birthday. Former OCI staff member Greg Muttitt has contributed a chapter to an important new book on OPEC’s history and future. In a guest blog based on his chapter, he argues we need to think about OPEC less simplistically, and suggests a role for OPEC in tackling … Read More
A new study released by Oil Change International examines the role of Danish oil and gas production in a Paris-aligned global carbon budget. The report confirms that while Denmark has positioned itself as a global climate leader, its plans to expand North Sea oil and fossil gas extraction would undermine its record of climate action and would be incompatible with achieving its Paris climate commitments.