“Biden’s climate legacy hangs in the balance — we need bold leadership, not tinkering around the edges. Declaring a climate emergency would make it clear that Biden views the climate crisis as an existential threat and unlock key powers to tackle climate change head-on and hasten a just transition to clean, renewable energy,” said Rees.
Credendo’s new policy is meant to implement the Glasgow commitment to end international public finance for fossil fuels by the end of 2022, but it leaves loopholes for existing oil and gas fields and gas-fired power.
“We can’t transition away from fossil fuels by locking in five more years of deadly extraction, and Biden can’t claim to care about environmental justice while forcing oil and gas drilling on already burdened communities,” said Collin Rees.
“This Supreme Court decision was illegitimate and wrong, but does almost nothing to constrain President Biden’s toolbox to address the climate crisis,” said Collin Rees.
Today G7 climate, energy and environment ministers issued a communique committing to end public finance for fossil fuels by the end of this year.
“Big Oil is gouging working families, and it’s critical to hold these companies accountable for their exploitative profiteering,” said Collin Rees.
“Voters will reward politicians who stand up for people, not polluters, and taxing windfall profits is wildly popular in every part of the country,” said Collin Rees.
“The EU’s new international energy strategy is woefully inadequate and would lock in decades’ more extraction of deadly gas and oil,” said Collin Rees.
A new peer-reviewed study published in Environmental Research Letters finds that existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C. The study, led by researchers at Oil Change International and the International Institute for Sustainable Development, finds that nearly 40% of developed fossil fuel reserves need to stay in the ground to keep the 1.5°C limit in reach.
“Congress must crack down on Big Oil’s insatiable greed by taxing these windfall profits and moving the United States and the world to renewable energy as quickly as possible,” said Collin Rees.