Today in a huge win for climate, environment, and people, Equinor ASA announced that they are postponing the investment decision on the Wisting oil field in Norway.
The report finds the oil and gas majors are involved in over 200 expansion projects on track for approval from 2022 through 2025. If they go forward, these companies’ investments could create an additional 8.6 billion tonnes (Gt) of carbon pollution – equivalent to the lifetime emissions of 77 new coal power plants.
Despite an array of new ‘net zero’ pledges released in the past two years, the climate promises of major U.S. and European oil and gas companies still fail to meet the bare minimum for alignment with the Paris Agreement, according to a new study.
A new briefing released today reveals that, despite claiming to be one of the world’s climate leaders, Norway has exponentially ramped up its exploration licensing over the past 10 years, making it Europe’s most aggressive explorer for new oil and gas.
Being a “leader” among laggards doesn’t cut it when we’re in a climate emergency – a crisis that the oil and gas industry has done the most to cause.
Our new discussion paper analyzes the current climate commitments of eight of the largest integrated oil and fossil gas companies, and reveals that none come close to aligning their actions with the urgent 1.5°C global warming limit as outlined by the Paris Agreement.
The Norwegian Government has just given lucrative tax breaks to the oil industry to carry on drilling, despite the urgent need to tackle our climate emergency.
Two days after hundreds of thousands marched through New York demanding action to confront the climate crisis, youth activists disrupted a greenwashing event attended by several oil major CEOs.
Recent analysis shows that oil majors — including Oil & Gas Climate Initiative members — are set to spend hundreds of billions of dollars more on exploration and extraction of oil and gas that the world cannot afford to burn, eclipsing symbolic ‘low-carbon’ efforts.