Despite moderate progress in the 2017 budget, Canada remains the largest provider of fiscal support to oil and gas production in the G7 relative to the size of its economy.
Today, Norway announced plans to divest from roughly 150 companies engaged in oil and gas exploration and production. Our response.
Tomorrow Greg Muttitt, the Research Director at Oil Change International will give evidence to the UK’s parliamentary Environmental Audit Committee, which is investigating the scale and impact of UK Export Finance’s financing of fossil fuels in developing countries.
A study published today, by a group led by the International Institute for Applied Systems Analysis (IIASA), indicates that eliminating fossil fuel subsidies could curb global greenhouse gas emissions by as much as 5% through 2030 while saving hundreds of billions of dollars in public money. Despite this seemingly good news, the framing of the study was strangely downbeat, casting these reductions as “only a small effect on CO2 emissions.” What we know from reading the actual findings of this study, as well as several other analyses of the climate impacts of fossil fuel subsidy removal, is that nixing oil, gas, and coal subsidies would be a big win for the climate, would saves money, and could free up resources to help the poorest and most vulnerable.
The World Bank’s pledge to end all upstream investment in the oil and gas sector by 2019 topples a key pillar holding up the social license around the fossil fuel industry.
“It’s time for Big Oil to take responsibility for the devastation they have wrought, that’s why New York City is making the unprecedented move to both sue and divest from fossil fuel companies.”
The World Bank just shook the world of energy finance to its foundations. On December 12, at the One Planet Summit in Paris, the world’s most high-profile public bank said they would no longer finance oil and gas extraction after 2019. This move made headlines around the world, and it was the direct result of … Read More
Organizations from frontline communities – where Americans that are most impacted by climate change and the fossil fuel industry live – and organizations working in solidarity with them, are urging lawmakers to reject the FUTURE Act (S.1535) and the Carbon Capture Act (H.R.1379) – and to oppose its inclusion in a tax policy package.
More than 30 environmental, public health, consumer, and climate groups delivered a letter to members of Congress in opposition to the FUTURE Act (S.1535) and Carbon Capture Act (H.R.3761) – and any attempts in a tax policy package to extend or expand subsidies for enhanced oil production.
Acknowledging the obvious fact that our future cannot be fossil fueled begins the game that will only be truly won when our public policies, our laws, our governments, and our social norms fully incorporate this truth.