Over 500 climate, conservation, Indigenous, religious and business groups sent President-elect Joe Biden text for a proposed executive order to ban new fossil fuel leasing and permitting on federal public lands and waters.
Press Releases
UK announces end to overseas fossil fuel finance, now other governments must follow suit
The United Kingdom’s prime minister, Boris Johnson, will commit to end the UK’s overseas fossil fuel financing “as soon as possible” at the Climate Ambition Summit. The phase-out of oil, gas, and coal financing applies to aid funding, trade promotion and export finance provided by UK Export Finance (UKEF), the institution that has come under scrutiny for its USD 1 billion investment in a controversial LNG project in Mozambique and for considering to finance the equally controversial East African Oil Pipeline.
Day of Action Against Financing of Keystone XL, Line 3 Pipelines
Today across the nation, activists in 60 cities and 25 states plan to utilize COVID-safe and creative ways to deliver letters calling on major banks to distance themselves from the funding of the toxic Keystone XL and Enbridge’s Line 3 tar sands pipelines.
Danish Announcement Sends Clear Signal: Climate Leadership Means End to Fossil Fuel Expansion
The Danish Government just announced the cancellation of the 8th North Sea licensing round, a ban on future offshore licencing (following an onshore ban in 2018), and a ban on all offshore production by 2050. Hannah McKinnon of Oil Change International responded as follows.
New Analysis Establishes U.S. Fair Share Contribution to Paris Agreement
With the expected re-entry of the United States into the Paris Climate Agreement, the Biden administration is required to update the U.S. pledge for 2025 by formally submitting a 2030 pledge towards the global effort. To inform this contribution, U.S. Climate Action Network released an analysis of “fair share” country contributions with a particular focus on the United States.Â
Top US banks still propping up Mountain Valley fracked-gas pipeline boondoggleÂ
Eight main street U.S. banks have substantially increased their investment in the troubled Mountain Valley fracked gas pipeline project, updated analysis by Oil Change International revealed today.
Finance in Common Summits misses opportunity to end fossil fuel finance, but there is a way forward, say CSOs
Today development banks signed a joint declaration at the first global summit of development banks, Finance in Common. Before the summit, the UN Secretary General, youth climate activists, and over 300 civil society organisations all urged development banks to act to end fossil fuel investments. However, the joint declaration only includes a vague commitment to “consider” ways to reduce fossil fuel investments.
Stop the Money Pipeline Issues Set of Criteria for Financial Appointees to the Biden Administration
Stop the Money Pipeline, a coalition pushing financial institutions to end support for the fossil fuel industry, sent a letter to the Biden/Harris transition team urging strong climate action criteria regarding appointments to financial regulators and the Treasury Department.
G20 Backtracks on Fossil Fuel Funding Phase-Out in COVID-19 Recovery
Despite repeated pledges to end inefficient fossil fuel subsidies, G20 governments’ support to fossil fuels has dropped by only 9% since 2014–2016, hitting USD 584 billion annually over the last three years, according to a report released today by the International Institute for Sustainable Development (IISD), the Overseas Development Institute (ODI), and Oil Change International (OCI).
European Development Finance Institutions fall short on climate ambition by allowing continued financing for fossil gas
European Development Finance Institutions fall short on climate ambition by allowing continued financing for fossil gasToday, one week ahead of the Finance in Common Summit, the Association of European Development Finance Institutions (EDFI) announced joint ambitions for climate action. The institutions commit to full Paris alignment by 2022 and to end coal and fuel oil financing. For gas finance, they commit to “generally exclude [such finance] by 2030 at the latest”, but leave the room open to gas financing beyond 2030 in certain cases.Â