Since the implementation of the Paris Agreement, G20 countries have provided at least USD 77 billion a year in finance for oil, gas, and coal projects.
Still Digging: G20 Governments Continue to Finance the Climate Crisis
This report reveals G20 countries have provided at least $77 billion a year in public finance to oil, gas and coal projects since the Paris Agreement through their international public finance institutions. This government-backed support to fossil fuels from export credit agencies, development finance institutions, and multilateral development banks is more than three times what they are providing to clean energy
“Oil is dead”: Post COVID-19, there’s no way back for Canada’s tar sands
The Canadian Green Party’s parliamentary leader, Elizabeth May, said last week: “My heart bleeds for people who believe the sector is going to come back. It’s not. Oil is dead and for people in the sector, it’s very important there be just transition funds.”
Response to Canada’s oil and gas bailout announcement
That today’s announcement does not include most of the industry’s wish list is credit to massive public outcry.
Not an April Fool’s: Canadians to fund USD $5 billion KXL pipeline in middle of global pandemic
It would make a great April Fools joke. Investing $5 billion in a product that is nearly worthless in the middle of a global pandemic, which puts communities and construction workers at risk. Make sense to you? No, of course it doesn’t. You would reply: “Don’t be so stupid! That must be a joke.”
Groups Demand Immediate Halt to All Keystone XL Activity amid Coronavirus Emergency
A broad coalition of Indigenous, landowner, environmental, and conservation groups called on TC Energy to immediately halt all activity on its Keystone XL pipeline project due to the coronavirus public health threat.
Response to Keystone XL subsidy announcement from Alberta
Today, the Government of Alberta announced that it would support TC Energy’s Keystone XL oil pipeline, with a direct investment of more than USD 1 billion.
Response: Export Development Canada changes in the Emergency Response Act could amount to a giant oil bailout
The new measures allow for an unlimited amount of public finance to flow to Canada’s oil and gas sector at the sole discretion of the Minister of Finance.
With tar sands on “life support”, Canada prepares a multibillion bailout for oil & gas
Rather than fund a just transition, the Canadian government is “preparing a multibillion-dollar bailout package for Canada’s oil and gas sector that is expected to be unveiled early next week”.
Response to Canada’s possible oil and gas bailout
We’re in the middle of an unprecedented global health emergency and economic crash, we can’t afford for the federal government to bail out a sector in terminal decline. Workers and communities are struggling right now – there are still massive gaps in Canada’s COVID-19 response packages that are putting millions at risk of losing their homes, jobs, and health. It is criminal for Trudeau to be pursuing a massive handout to Big Oil instead of ensuring these basic needs are met.