New Report: Canadian Bank RBC the #1 Financier of Fossil Fuels, World’s Biggest Banks Continued to Pour Billions into Fossil Fuel Expansion

April 13, 2023By Oil Change InternationalFeatured, News, Press Releases 1 Comment

In the seven years since the Paris Agreement was adopted, the world’s 60 largest private banks financed fossil fuels with USD $5.5 trillion. The report lays bare the shocking fact that even as fossil fuel companies made $4 trillion in profits in 2022, banks still provided $673 billion in financing. Remarkably, this happened while oil majors like Exxon Mobil and Shell PLC asked for $0 financing from banks in 2022.

Banking on Climate Change 2020: Fossil Fuel Finance Report Card

March 18, 2020By Oil Change InternationalReports, Stop Funding Fossils

A new report, Banking on Climate Change 2020, reveals that 35 private-sector banks across Canada, China, Europe, Japan, and the U.S. have financed fossil fuels with USD $2.7 trillion since the Paris Agreement was adopted (2016-2019), with financing on the rise each year.

The report finds that fossil fuel financing continues to be dominated by the big U.S. banks – JPMorgan Chase, Wells Fargo, Citi, and Bank of America – together, these four banks account for a staggering 30% of all fossil fuel financing from the 35 major global banks since the Paris Agreement was adopted.

RIP the Arctic

September 10, 2012By Andy RowellBlog Post, Featured 1 Comment

Yesterday marked the beginning of the end for the Arctic. Yes the oil industry has been drilling in the high North on Prudhoe Bay for decades now, but yesterday oil giant Shell begun drilling the first well in the Arctic Chukchi Sea in more than two decades. Yesterday morning, Shell’s Noble Discoverer drill-ship began to … Read More

Gazprom’s Oil Response Plan “Illegal”

August 15, 2012By Andy RowellBlog Post, Featured

Much of the focus recently about the dangers of Arctic drilling has focused on Shell’s plans to drill off Alaska. But let’s not forget about the real and growing dangers to the Russian Arctic too. Once again it seems that the oil industry is not prepared for the risks of a spill and maybe operating … Read More

Greenpeace Shuts Shell Gas Stations

July 16, 2012By Andy RowellBlog Post, Featured 1 Comment

Breaking News: In the UK right now, Greenpeace activists are shutting down Shell gas stations, in order to tell the company to stop drilling in the Arctic. As we stand 40 stations are currently shut down across the two main target cities: London and Edinburgh. In both capitals, Greenpeace plans to shut down every Shell … Read More

Shell’s History of “Corporate Malfeasance”

June 13, 2012By Andy RowellBlog Post

Poor old Shell. Last week it was humiliated in a spoof action by Greenpeace and the Yes Men. This week its corporate reputation takes a battering in a report by the Alaska Wilderness League. The 51 page report, published as Shell gears up to start drilling in the Arctic, makes devastating reading.  It concludes that … Read More

Shell Spoof Goes Global

June 10, 2012By Andy RowellBlog Post, Featured

Maybe in retrospect Shell should not have injuncted Greenpeace for disrupting its drilling rigs heading for the Arctic. For all it has done has made its opponents more creative in the way they will campaign against the oil giant. Late last week, there was widespread confusion across the American media, the internet, including Facebook and … Read More