Today, we’ve joined with civil society groups and peoples’ movements from around the world to launch an exciting new campaign: Fossil Free ADB. The goal of the campaign is to pressure the Asian Development Bank (ADB) to stop financing fossil fuels.
Gas
New Coalition Urges Banks to End Bad Bets On Fracked Gas Pipeline
A group of environmental and financial organizations representing over 7,600,000 members and supporters announced the launch of the DivestMVP coalition to highlight the financial instability of the fracked gas Mountain Valley Pipeline.
ExxonMobil’s climate plans are still “grossly insufficient”
Last year, we rated ExxonMobil as “grossly insufficient” on all ten of the criteria. There are tiny steps forward in the new announcement, but nothing that changes any of our ten metrics from “grossly insufficient” to “insufficient,” let alone to even “partial alignment.”
Response to Biden climate announcements on oil and gas leases, fossil fuel subsidies
“Today’s move by President Biden to freeze leasing for oil and gas production on federal lands and waters is a critical first step to ending this program once and for all.”
Federal Energy Regulatory Commission Upholds Oregon’s Denial of Key Jordan Cove LNG Permit
Today, the Federal Energy Regulatory Commission (FERC) upheld the Oregon Department of Environmental Quality’s denial of a key permit for the proposed Jordan Cove LNG export terminal and Pacific Connector fracked gas pipeline.
Over 500 Groups Urge Biden to Order Fossil Fuel Leasing Ban
Over 500 climate, conservation, Indigenous, religious and business groups sent President-elect Joe Biden text for a proposed executive order to ban new fossil fuel leasing and permitting on federal public lands and waters.
G20 Backtracks on Fossil Fuel Funding Phase-Out in COVID-19 Recovery
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).
European Development Finance Institutions fall short on climate ambition by allowing continued financing for fossil gas
European Development Finance Institutions fall short on climate ambition by allowing continued financing for fossil gasToday, one week ahead of the Finance in Common Summit, the Association of European Development Finance Institutions (EDFI) announced joint ambitions for climate action. The institutions commit to full Paris alignment by 2022 and to end coal and fuel oil financing. For gas finance, they commit to “generally exclude [such finance] by 2030 at the latest”, but leave the room open to gas financing beyond 2030 in certain cases.
Fracking Fiasco: New report names Wells Fargo and JPMorgan Chase as main players funding U.S. shale bust
A new report by Oil Change International and Rainforest Action Network (RAN) shows how major banks have continued pouring money into fracking companies in recent years despite numerous warnings that the sector was financially unsustainable — on top of the well-documented environmental, health and climate impacts of the industry.
Fracking Fiasco: The Banks That Fueled the U.S. Shale Bust
A new report by Oil Change International and Rainforest Action Network (RAN) shows how major banks have continued pouring money into fracking companies in recent years despite numerous warnings that the sector was financially unsustainable — on top of the well-documented environmental, health and climate impacts of the industry.