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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.
PRESS RELEASES
FOR IMMEDIATE RELEASE
April 16, 2018
US Commercial Banks In For a Spring of Fossil Fuel Resistance
US commercial banks are gearing up for their annual general meetings, starting as early as this week, but they’re not alone in making plans for AGM season. A growing number of concerned communities and organizations are planning a series of interventions at this year's bank shareholder meetings to pressure the banks to stop financing controversial oil and gas infrastructure projects.
Campaigns targeting US Bank, Wells Fargo, Bank of America, and JPMorgan Chase will be making their demands known at the four banks’ respective meetings over the course
FOR IMMEDIATE RELEASE
April 12, 2018
US Bank Raises $2 Billion in Oil and Gas Pipeline Finance Since Pledge to Stop Pipeline Financing
Since revising its environmental policy last year, US Bank financed more than $2 billion to companies building oil and gas pipelines, including an estimated $480 million to Energy Transfer Partners, new analysis released today by Oil Change International concludes.
US Bank CEO Andrew Cecere won praise from indigenous rights and climate advocates in April 2017 when he announced to shareholders that US Bank would “not finance the construction of oil and gas pipelines.” Days later, US Bank issued a revised environmental
Through its energy forecasts, the International Energy Agency (IEA) has been guiding governments towards energy decisions that are inconsistent with the goals of the Paris Climate Agreement, new research has found.
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew by 111% from 2016 to 2017.
Today, Shell released a new scenario which outlines a possible energy future for the world involving massive negative emissions. In response, Greg Muttitt commented, "The lesson is simple: If you want to know how to fix climate change, don't ask a company that wants to sell you more oil and gas."