New report: Commitment to end international finance for fossil fuels is shifting billions, but key countries breaking promises missing in action

March 15, 2023By OCI TeamBlog Post, Press Releases, Stop Funding Fossils No Comments

Promise Breakers, a report released today by Oil Change International, reveals that the stop funding fossils commitment forged at COP26, is already shifting an estimated USD 5.7 billion per year out of fossil fuels and into clean energy, with the potential of a further 13.7 billion per year if all signatories fulfill their commitments.

Promise Breakers: Assessing the impact of compliance with the Glasgow Statement commitment to end international public finance for fossil fuels

March 15, 2023By OCI TeamFeatured, Reports, Resources, Stop Funding Fossils 6 Comments

New research shows stop funding fossils commitment forged at the 2021 UN climate summit is already shifting an estimated USD 5.7 billion per year out of fossil fuels and into clean energy. If all signatories fulfill their commitments, then a further 13.7 billion per year will be shifted out of fossil fuels and into clean energy.

Response: Oil Change Int’l Condemns Biden Approval of Willow Oil Project

March 13, 2023By OCI TeamFeatured, Press Releases 3 Comments

Approving ConocoPhillips’ dirty and dangerous Willow Project is a tremendous strike against President Biden’s legacy on both climate and environmental justice. The Willow project would be a colossal source of climate pollution, emitting a whopping 278 million metric tons over the next three decades — equivalent to the annual emissions of one-third of all remaining U.S. coal plants.

Investing in Disaster: Recent and Anticipated Final Investment Decisions for New Oil And Gas Production Beyond the 1.5°C Limit

November 16, 2022By OCI TeamBriefings, Featured

The briefing reveals that new oil and gas production approved to date in 2022 and at risk of approval over the next three years could cumulatively lock in 70 billion tonnes (Gt) of new carbon pollution. This is equivalent to almost two years’ worth of global carbon emissions from energy at current levels, 17 percent of the world’s remaining 1.5°C carbon budget, or the lifecycle emissions of 468 coal power plants.