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Oil Change International is a research, communication, and advocacy organization focused on exposing the true costs of fossil fuels and facilitating the coming transition towards clean energy.
The Build Back Fossil Free campaign rallied ahead of U.S. President Joe Biden’s remarks at the United Nations climate summit today in Glasgow, urging Biden to take executive action to stop fossil fuel projects.
"President Biden's claim that the U.S. is 'leading by example' is a slap in the face to communities suffering daily from the impacts of the climate crisis and fossil fuel extraction," said Rees.
New report updates analysis of public financing for energy projects ahead of expected joint announcement to end these flows at COP26.
Today the OECD Export Credit Group announced new restrictions on its support for overseas coal projects. The restrictions do not address export finance for coal mines and related infrastructure, nor oil and gas financing even if the latest IEA report shows that investments in new fossil fuel production need to end this year to limit warming to 1.5°C.
"Arriving at COP26 with a climate risk plan that doesn’t adequately address financial institutions' funding of fossil fuels means the Biden Administration risks forfeiting its chance at climate leadership," said Rees.