The new report finds that wealthy nations — the United States, United Kingdom, Canada, Norway, and Australia — planning to approve and subsidize new fossil fuel projects which undermines their recent claims of leadership in addressing the climate crisis.
Press Releases
Civil society reaction to launch of Beyond Oil and Gas Alliance
With launch of ‘Beyond Oil & Gas Alliance’, countries and regions forge first diplomatic initiative to phase out fossil fuel extraction. Civil society applauds the creation of BOGA and asks countries: Where is your plan to stop producing the fossil fuels that are driving the climate crisis?
California Joins the Beyond Oil and Gas Alliance as a Second-Tier Member
“Gov. Newsom has made key strides, and it’s exciting to see California joining BOGA’s second tier — but to align with science and justice, he must announce a full ban on new oil and gas permits,” said Rees.
Spain joins commitment to end international oil, gas, and coal finance, bringing total for potential finance shifted to USD 23.6 billion per year
This increases the number of signatories to 30 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 23.6 billion per year. This equals 37% of annual public finance for fossil fuels provided by G20 countries and the Multilateral Development Banks (MDBs) between 2018 and 2020.
Report: Oil production in the Permian Basin expected to increase 50% over the next decade
The report additionally reveals that burning the oil and gas projected to be produced in the Permian Basin by 2050 will release nearly 40 billion tons of CO2, almost 10% of the remaining global carbon budget for staying under 1.5°C. 80% of these emissions, over 30.6 billion tons of CO2, would come from burning the liquids and gas produced from new wells that were not in production at the end of 2020, signaling an urgent need — but an opportunity — for President Biden to immediately deny new oil and gas infrastructure permits.
Germany joins commitment to end international oil, gas, coal finance, bringing total for potential finance shifted to USD 21.7 billion per year
This increases the number of signatories to 29 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 21.7 billion per year.
Netherlands joins commitment to end international oil, gas, and coal finance, leaving Germany and France lagging behind
Last Thursday on November 4, 25 countries and institutions committed to end international public finance for unabated oil, gas, and coal by the end of 2022 at the United Nations climate conference in Scotland (COP26). Today, the Netherlands has confirmed that it will also join the initiative.
United States joins 20+ countries in committing to end international finance for oil, gas, & coal by end 2022
Today the United States and over 20 other countries and institutions from both developed and developing countries committed to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance.
CSOs welcome historic 20+ country-strong commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow
Today at COP26, more than 20 countries and institutions launched a joint statement committing to end direct international public finance for coal, oil and gas by the end of 2022 and prioritize clean energy finance. This initiative could directly shift more than USD 18 billion a year of support out of fossil fuels and into clean energy.
New Ad Urges Biden To Reject Fossil Fuel Projects Following Methane Announcement at COP26
U.S. environmental and climate justice groups launched a new print ad in The Herald, Scotland’s largest daily newspaper, calling on President Biden and U.S. delegates to reject 23 liquefied natural gas terminals and pipelines sitting on their desks for approval.