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

March 24, 2021By OCI TeamFeatured, 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).

Report: the Network for Greening the Financial System (NGFS) must revise its climate scenarios to drive decarbonization in the financial sector

February 14, 2021By Romain IoualalenEnergy Transitions & Futures, News, Press Releases, Stop Funding Fossils

In a new paper published today, Oil Change International (OCI) and Reclaim Finance analyze the shortcomings of the climate scenarios published by the NGFS and highlight the risk that they may be used to justify slow and inadequate climate action by financial actors.