Despite the need to rapidly wind-down fossil fuels to avert the worst of the climate crisis, governments worldwide continue to prop up fossil fuel production with huge sums of public money. They may be breaking international law.
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Export credit agencies and states potentially at risk of climate litigation over finance for fossil fuels
A new legal opinion lays out the international law obligations of ECAs that are responsible for tens of billions of dollars per year in support for fossil fuels.
Bad Data and Deception: The American Petroleum Institute Pivots on Methane
A detailed analysis by Oil Change International of the public statements and commitments by the American Petroleum Institute (API) around methane emissions and climate change has uncovered a decade of spurious data, deceptive messaging, and disingenuous public positioning by the big oil spin doctors.
Multilateral Development Banks have financed at least $3 billion in fossil fuels during COVID-19 recovery
Today sees the release of the data on project financing from the nine major Multilateral Development Banks on the Energy Policy Tracker and a new Big Shift Global briefing, showing that, since the beginning of the pandemic, the Banks provided at least $12 billion to clean energy and $3 billion for fossil fuels.
New Report Reveals Global Banks Funneled $3.8 Trillion into Fossil Fuels Since Paris Agreement
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).
Banking on Climate Chaos 2021: Fossil Fuel Finance Report
This report analyzes fossil fuel financing from the world’s 60 largest commercial and investment banks — aggregating their leading roles in lending and underwriting of debt and equity issuances — and reveals that these banks poured a total of USD $3.8 trillion into fossil fuels from 2016–2020.
Response to Deb Haaland’s historic confirmation as Secretary of the Interior
Secretary Haaland’s confirmation sets a historic precedent for Indigenous communities and leaders across Turtle Island, and we look forward to working with the Secretary to introduce additional policies that protect our nation’s waters, lands, and communities from the dirty influence of the fossil fuel industry during her time in this critical role.
Biden’s climate diplomacy mustn’t turn a blind eye to Big Oil’s “dirty footprints” in Africa
When President Joe Biden signed his first set of Executive Orders on Climate Change and cancelled the Keystone XL pipeline project soon after his inauguration, he sent a very clear message to the global fossil fuel industry: it’s no longer going to be business-as-usual with fighting the existential threat that climate change poses to humanity.
53 organizations call on Export Development Canada to stop backing oil and gas
As Export Development Canada (EDC) undergoes a climate change policy review, 53 civil society organizations sent a letter with a call to action to the federal crown corporation and Minister of Trade Mary Ng.
As Shell faces climate lawsuit in Dutch Court, production data confirms the oil giant is on track to shoot past 1.5°C
As Shell faces a climate lawsuit in the Dutch Court this month, this blog takes a closer look at Shell’s climate ambition alongside its fossil fuel production plans. Yet again, it becomes clear that Shell is on a collision course with a safer climate.