The European Investment Bank (EIB) is the world’s largest multilateral lender, bigger even than the World Bank. As a public bank, it’s tasked with providing finance in the EU public interest, and it has an outsized influence on the EU’s energy system because of the private investment it can “crowd in” and the sheer amount of money it has at its disposal.
We know that people power can stop dangerous fossil fuel projects like the proposed Line 3 tar sands oil pipeline in Minnesota, because we’ve proved it over and over again – and recently we’ve had two more big wins.
Dozens of advocacy groups highlighted fundamental flaws in a draft federal study intended to assess the macroeconomic impacts of expanded LNG export.
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew by 111% from 2016 to 2017.
Rainforest Action Network, Oil Change International, Indigenous Environmental Network, Honor the Earth, BankTrack, and Sierra Club with 350.org, 350 Eugene, 350 Seattle, Amazon Watch, Asia Pacific Forum on Women, Law and Development, Bank Information Center, Bold Alliance, Carrizo/Comecrudo Tribe of Texas, Catskill Mountainkeeper, CEE Bankwatch, Center for Sustainable Economy, CHANGE, Christian Aid, Citizens Against LNG, … Read More
The proposed Jordan Cove LNG export terminal and Pacific Connector pipeline would be a substantial source of climate pollution for decades to come. This briefing provides an estimate of the project lifecycle emissions and provides the climate rational for rejecting the proposed project.
A new report released by Oil Change International details, for the first time, the full accounting of greenhouse gas emissions that would result from the proposed Jordan Cove LNG Export terminal and Pacific Connector fracked gas Pipeline project in Oregon.
Big banks’ business as usual is killing the climate. From 2014 to 2016, big banks around the world poured $290 billion into extreme fossil fuel companies and failed to respect human rights.
Canada’s permit for a massive new LNG export plant in British Columbia cannot be squared with its climate goals.
In the past three years, the North American and European commercial and investment banking sector has engaged in fossil fuel financing practices that are deeply at odds with the global climate agreement reached at COP 21 last December.