A global set of 60 climate and rights groups has issued a set of “Principles for Paris-Aligned Financial Institutions” to offer a roadmap for the decarbonization of the finance sector on a timetable aligned with the Paris Agreement.
fossil fuel finance
Principles for Paris-Aligned Financial Institutions: Climate Impact, Fossil Fuels, and Deforestation
Sixty climate and human rights groups from around the globe have issued a set of “Principles for Paris-Aligned Financial Institutions” to offer a roadmap for the decarbonization of the finance sector on a timetable aligned with the Paris Agreement.
Sixty-Nine Organizations Tell the Federal Reserve to Stop Buying Fossil Fuel Debt
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.
Briefing: Overseas players should not dominate distributed renewable energy sector in Africa
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.
Letter to CEOs: Insurers Must End Support for New Oil and Gas Projects to Meet Climate Targets
Insurers must end all support for new oil and gas projects in order to meet international climate targets, NGOs supporting the Unfriend Coal / Insure Our Future campaign say in a letter to CEOs released today.
Why $77 billion a year in public finance for oil, gas, and coal is even worse than it sounds
With the health and livelihoods of billions at risk from COVID-19, governments around the world are preparing historic levels of stimulus finance. Building a Just Recovery that avoids the worst of climate change means overhauling our public finance institutions fast.
International Groups: Japan Must Not Support Vung Ang 2 Coal Power Plant in Vietnam
Today, Japanese environmental NGOs submitted a petition for the cancellation of the Vung Ang 2 Coal-fired Power Generation Project in Vietnam to the Japanese public and private sectors signed by 127 organizations from more than 40 countries and regions.
Steny Hoyer Shills for Big Oil as HEROES Acts Shuns Safeguards Against a Fossil Fuel Bailout
“Equating a bailout for Big Oil with basic protections for nurses and healthcare workers in a pandemic is completely egregious,” said Rees of Hoyer’s comments.
ReWIND Act Will Help Make Sure Money Gets to People, Not Polluters
Hundreds of environmental, social justice, labor, and progressive organizations applauded the release of the ReWIND Act, new legislation introduced today that would block a Big Oil Bailout and ensure relief money flows to people, not polluters.
Environmentalists Blast Big Oil’s Attempts to Hijack the Fed’s Main Street Lending Program
Environmentalists are blasting attempts by oil and gas companies to hijack the Fed’s Main Street Lending Program in order to pay down their debt — debt that began skyrocketing long before the coronavirus impacted the industry.