Q&A: Legal opinion on ECA finance for fossil fuels

May 4, 2021By OCI TeamSupport Page

1. What does the legal opinion say? The legal opinion says that in the context of the climate emergency, and the rapidly diminishing carbon budget, there is an “in principle” requirement on states under international law to stop financing new fossil fuel projects. They should also decrease the funding of existing fossil fuel projects under … Read More

New Report Reveals Global Banks Funneled $3.8 Trillion into Fossil Fuels Since Paris Agreement

March 24, 2021By OCI TeamBlog Post, Featured, Press Releases

A new report released today by Oil Change International, Rainforest Action Network, BankTrack, Indigenous Environmental Network, Reclaim Finance, and Sierra Club, and endorsed by over 300 organizations around the world, reveals that 60 global banks have provided USD $3.8 trillion to fossil fuel companies in the five years since the adoption of the Paris Agreement (2016-2020).