Sweden restricts international oil and gas finance to deliver on climate commitment

September 20, 2022By Nina PusicEnergy Transitions & Futures, Press Releases, Stop Funding Fossils

As the deadline for implementing the Glasgow Statement looms, the Swedish export credit agencies, SEK and EKN, have released an updated policy. A previously-released policy aligned Swedfund – the Swedish development finance institution – with the Glasgow Statement. SEK and EKN’s new policy ends almost all support to fossil fuels by 31st December 2022, with some limited exemptions.

Response: The UK’s decision to lift its fracking ban flies in the face of climate science and will not solve its energy crisis

September 8, 2022By nicoleEnergy Transitions & Futures, Global Policy, Press Releases

Contacts Nicole Rodel: nicole [at] priceofoil.org Silje Lundberg: silje [at] priceofoil.org Today, Prime Minister Liz Truss announced the reversal of the UK’s fracking ban, despite advice from the government’s own advisors that such a move will not help lower energy bills or support long-term energy security. The decision to remove the moratorium on fracking, which … Read More

Oil Change International submits evidence to the Environmental Audit Committee

May 24, 2022By nicoleBlog Post, Energy Transitions & Futures, Global Policy

The UK House of Commons Environmental Audit Committee have launched a inquiry into Accelerating the transition from fossil fuels and securing energy supplies, which is scrutinising the UK Government’s Energy Security Strategy and its North Sea Transition Deal (for oil and gas production in the UK’s Continental Shelf). Oil Change International submitted the following evidence for the committee.

Zeroing In: A guide for the finance sector on the IEA’s Net Zero Emissions scenario and its implications for oil and gas finance

February 9, 2022By David TongBriefings, Energy Transitions & Futures, News, Resources 2 Comments

This briefing gives financial institutions an overview of the IEA’s first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA’s conclusion about ending new oil and gas field development is not a product of scenario design; it’s the arithmetic of 1.5°C.

Canada’s Big Oil Reality Check: Major oil and gas producers undercut Canada’s commitment to 1.5ºC

November 3, 2021By Oil Change InternationalEnergy Transitions & Futures, Featured, Reports

The assessment by Environmental Defence Canada and Oil Change International assesses eight of Canada’s top oil and gas producers, including Imperial (ExxonMobil) and Shell. It finds they are all on track to increase their oil and gas production in Canada, rather than planning a fair transition away from fossil fuels that are fuelling the climate crisis.

New Report: Climate Plans of Major Canadian Oil and Gas Producers Undercut Canada’s Commitment to 1.5ºC

November 3, 2021By Oil Change InternationalBlog Post, Energy Transitions & Futures, News, Press Releases

The climate plans of major oil and gas companies operating in Canada rank among the worst worldwide and will accelerate the climate crisis rather than help Canada and the world limit warming to 1.5 degrees Celsius (ºC), according to a new report launched at the UN Climate Change Conference.