Nearly 150 organizations sent a letter urging Special Presidential Envoy for Climate John Kerry to use his powers to end the flow of finance from Wall Street to the industries driving climate change.
Press Releases
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).
UK Undermines Its Own Claim to Climate Leadership By Failing to End Oil and Gas Licensing in the North Sea
Today, the United Kingdom announced a “North Sea deal to protect jobs in the green energy transition” that campaigners say fails to meet the UK’s responsibility to lead in a phase-out of domestic oil and gas extraction.
New CA100+ Benchmarks Reconfirm: The oil and gas industry is failing to act credibly on climate
“This analysis reconfirms the obvious. No Big Oil and Gas company has a serious plan to wind down its fossil fuel operations at a pace that comes anywhere close to aligning with the critical 1.5-degree limit.”
Nearly 450 Organizations Call on Biden Administration to End Public Finance for Fossil Fuels
Over 400 organizations from 50 countries signing onto a new letter called on the Joe Biden administration to immediately end all U.S. public financing for fossil fuels, including natural gas.
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.
Over 350 Groups Urge President Biden to Stop the Line 3 Pipeline and Protect Indigenous Rights, Climate
“We urge you and all federal leadership to stand firm against the Line 3 pipeline and act now to halt its construction. The pipeline’s construction is an urgent threat to the waters of Minnesota and Lake Superior, as well as to our global climate,” said the groups to Biden.
New Coalition Urges Banks to End Bad Bets On Fracked Gas Pipeline
A group of environmental and financial organizations representing over 7,600,000 members and supporters announced the launch of the DivestMVP coalition to highlight the financial instability of the fracked gas Mountain Valley Pipeline.
Report: the Network for Greening the Financial System (NGFS) must revise its climate scenarios to drive decarbonization in the financial sector
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.