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coal finance

Oil Change International response to Biden Administration announcements on international finance

April 22, 2021By Collin ReesBlog Post, News, Press Releases, Stop Funding Fossils

“Today’s announcement by President Biden on international fossil finance is welcome but the lack of firm commitments falls short. We urge the Biden administration to add a clear commitment to an immediate phase-out, with no loopholes for gas or any other continued fossil support.”

Nearly 450 Organizations Call on Biden Administration to End Public Finance for Fossil Fuels

March 18, 2021By Collin ReesBlog Post, News, Press Releases, Stop Funding Fossils 7 Comments

Over 400 organizations from 50 countries signing onto a new letter called on the Joe Biden administration to immediately end all U.S. public financing for fossil fuels, including natural gas.

Global Climate Groups Issue Guidance to Financial Institutions on Aligning with Paris Agreement Goals

September 16, 2020By Collin ReesBlog Post, News, Press Releases

A global set of 60 climate and rights groups has issued a set of “Principles for Paris-Aligned Financial Institutions” to offer a roadmap for the decarbonization of the finance sector on a timetable aligned with the Paris Agreement.

Principles for Paris-Aligned Financial Institutions: Climate Impact, Fossil Fuels, and Deforestation

September 16, 2020By OCI TeamBriefings, News

Sixty climate and human rights groups from around the globe have issued a set of “Principles for Paris-Aligned Financial Institutions” to offer a roadmap for the decarbonization of the finance sector on a timetable aligned with the Paris Agreement.

Letter to CEOs: Insurers Must End Support for New Oil and Gas Projects to Meet Climate Targets

June 18, 2020By Collin ReesBlog Post

Insurers must end all support for new oil and gas projects in order to meet international climate targets, NGOs supporting the Unfriend Coal / Insure Our Future campaign say in a letter to CEOs released today.

COVID-19 crisis accelerating “long-term decline of coal”

June 15, 2020By Andy RowellBlog Post

Even before the current COVID-19 crisis, coal was in trouble due to its high carbon content, coupled with high costs. But COVID-19 is accelerating that decline. And once coal is gone, it is not coming back.

Report: South Africa Continues to Bankroll Billions in Fossil Fuels

June 11, 2020By Bronwen TuckerBlog Post, Press Releases, Stop Funding Fossils

Poor transparency from DBSA, IDC, and ECIC means support for oil, gas, and coal likely higher than the ZAR 2.2 billion a year on record

Report: G20 Governments Bankrolling the Fossil Fuel Industry with at least $77 Billion a Year

May 27, 2020By OCI TeamPress Releases

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.

International Groups: Japan Must Not Support Vung Ang 2 Coal Power Plant in Vietnam

May 26, 2020By OCI TeamNews, Press Releases

Today, Japanese environmental NGOs submitted a petition for the cancellation of the Vung Ang 2 Coal-fired Power Generation Project in Vietnam to the Japanese public and private sectors signed by 127 organizations from more than 40 countries and regions.

Japan’s Third-Largest Bank in Discussions to Finance New California Export Terminal amid Pledge to Quit Coal Power

April 16, 2020By OCI TeamNews, Press Releases

Sumitomo Mitsui Financial Group announced it will “in principle” not finance any new coal power projects, while advocates in California called on the bank to apply those restrictions to all new coal infrastructure and drop plans to finance a widely opposed coal export terminal.

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