New Money Behind the Mountain Valley Pipeline: Eight U.S. Banks Dominate the Top 10 Backers

November 12, 2020By Oil Change InternationalBriefings, Stopping Carbon Lock-In 1 Comment

A new report by Oil Change International on the Mountain Valley Pipeline (MVP) reveals that banks have continued pouring money into the project over recent years, despite numerous warnings that the project has been financially unsustainable and a threat to the climate.

This analysis, an update to our 2017 report, reveals that the estimated cost of the Mountain Valley Pipeline has nearly doubled since 2017, increasing the potential project cost from USD 3.5 billion to between $6.3 and $6.5 billion.

Campaigners: G20 financial and political support for fossil fuels rises amidst COVID-19 crisis

July 15, 2020By Oil Change InternationalBlog Post, News, Press Releases, Stop Funding Fossils 1 Comment

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.