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.
Gas
New briefing: Facing COVID-19, Governments Must Prioritize Building Resilient Societies over Fossil Fuel Bailouts
A new briefing from Oil Change International argues for a managed decline of the oil and gas sector as an essential part of recovery from the COVID-19 crisis.
In the Face of COVID-19, Governments Have a Choice: Resilient Societies or Fossil Fuel Bailouts?
The COVID-19 crisis poses a threat to people’s health, their jobs and their lives, and like all crises, exacerbates already existing inequalities. Trillions in public finance will be needed to get through the current pandemic. This briefing outlines why continuing to rely on fossil fuels, in particular oil and gas, is not compatible with long-term recovery. It does not make sense to use the COVID-19 stimulus packages to try to revive a sunsetting industry which will not deliver on economic recovery, only to shut it down a few years later to meet climate goals.
Response: Export Development Canada changes in the Emergency Response Act could amount to a giant oil bailout
The new measures allow for an unlimited amount of public finance to flow to Canada’s oil and gas sector at the sole discretion of the Minister of Finance.
Response to Canada’s possible oil and gas bailout
We’re in the middle of an unprecedented global health emergency and economic crash, we can’t afford for the federal government to bail out a sector in terminal decline. Workers and communities are struggling right now – there are still massive gaps in Canada’s COVID-19 response packages that are putting millions at risk of losing their homes, jobs, and health. It is criminal for Trudeau to be pursuing a massive handout to Big Oil instead of ensuring these basic needs are met.
New Report Reveals Global Banks Funneled $2.7 Trillion into Fossil Fuels Since Paris Agreement
A new report released today by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club, and endorsed by over 250 organizations around the world, reveals that 35 global banks have provided USD $2.7 trillion to fossil fuel companies in the fours years since the adoption of the Paris Agreement (2016-2019).
The latest version of the most comprehensive report on global banks’ fossil fuel financing, Banking on Climate Change 2020, reveals that 35 global banks have not only been sustaining but expanding the fossil fuel sector with more than $2.7 trillion in the four years since the Paris Climate Agreement. The report finds that financial support for the fossil fuel industry has increased every year since the Paris Agreement was adopted in December 2015. The UN Intergovernmental Panel on Climate Change (IPCC) Special Report Global Warming of 1.5°C has shown that we need to rapidly reduce global carbon emissions if we are to avert the worst consequences of the climate crises. Yet Banking on Climate Change 2020 reveals that the business practices of the world’s major private-sector banks continue to drive us toward climate disaster.
Drilling Towards Disaster: New Mexico’s Oil & Gas Boom Undermines the State’s Climate Goals
A new briefing finds that New Mexico cannot meet its commitment to global climate goals if it allows a massive expansion in oil and gas production.
OCI response to BP’s latest climate plan
BP’s plan is the latest industry spin insisting that Big Oil has ‘seen the light’ on climate, only to distract us from real solutions.
“Grand Coalitions” with Big Oil and Gas Won’t Solve the Climate Crisis
The IEA is embarking on a public relations effort that bears a striking resemblance to the spin coming from the oil and gas industry itself. This post takes a closer look at the IEA’s new spin, and why it’s a dangerous distraction from real solutions.
British Columbia is trying to fuel an LNG boom with billions in industry handouts
The Canadian province of British Columbia (BC) is shaping up to be one of the worst actors in the global dash for gas, facilitating Indigenous rights violations and climate chaos while they try to stake out a reputation as progressive leaders on both.