GLOBAL POLICY

The Paris climate goals demand a rapid, just transition from fossil fuels to clean energy. We’re pushing governments to lead the way by adopting policies to end oil and gas production.

OVERVIEW OF WORK

In order to achieve climate goals, governments and other decision makers must support a just and equitable move away from fossil fuels. We are pushing for precedent-setting leadership from governments to put policies in place to manage the decline of oil and gas and ensure a just transition for fossil-fuel dependent workers and communities.

Building from a growing group of first mover governments, we are pressuring for increasing numbers of national and regional governments to end new licenses and permits for oil and gas production, and to develop plans to wind down their existing production over time.

LATEST PROGRAM POSTS

La Banque Postale, which is a relatively small but progressive bank in France, has set an international precedent against oil and gas expansion. The bank, which was already committed to ensuring that its banking activities achieve net zero carbon emissions by 2040, announced a complete withdrawal from fossil fuels by the 2030. Will other banks now follow?

Page 1 of 1074 12341,0731,074
LATEST PROGRAM RESEARCH

The report highlights and analyzes 26 Indigenous frontline struggles in the past decade against a variety of fossil fuel projects across Turtle Island over all stages of the fossil fuel development chain. Our analysis reveals that Indigenous resistance to carbon over the past decade has stopped projects equivalent to 400 new coal-fired power plants, or roughly 345 million new passenger vehicles. Additionally, Indigenous resistance has helped shift public debate around fossil fuels and Indigenous Rights, while averting lock-in of carbon-intensive projects.

There is growing recognition that central banks must act to confront the climate crisis. They have the tools to catalyze and accelerate the end of financing for fossil fuels – through monetary policy, regulatory action, and excluding fossil fuel assets from their own portfolios. But, with only limited exceptions, they are not using these tools. This report identifies 10 criteria for assessing central banks against the Paris Agreement’s objective, and applies them to assess 12 major central banks.

It has been a terrible, horrible, no good, very bad week or so for Big Oil...and that’s a very good thing for our climate.

Let’s recap:

Last week, the International Energy Agency released the groundbreaking “Net Zero by 2050” report, which they described as “world’s first comprehensive study of how to transition to a net zero energy system by 2050.” As OCI’s Kelly Trout outlined in her analysis last week, this first 1.5?C-aligned model from the IEA “closes the door on new fossil fuel extraction.” 

In bold lettering, the IEA concluded: “There is no need for investment in new fossil fuel supply in our

Page 3 of 72 1234567172