New Oil Change International research shows that only 20 countries, led overwhelmingly by the United States, are responsible for nearly 90 percent of the carbon-dioxide (CO2) pollution threatened by new oil and gas fields and fracking wells planned between 2023 and 2050. If this oil and gas expansion is allowed to proceed, it would lock in climate chaos and an unlivable future.
Analysis shows just 20 countries are responsible for nearly 90% of carbon dioxide pollution threatened by new oil and gas extraction projects between 2023 and 2050 — with top ‘climate hypocrites’ the United States, Canada, Australia, Norway, and the United Kingdom accounting for a majority. If these 20 Planet Wreckers followed the call from UN Secretary General Guterres to stop new oil and gas fields and licensing, the equivalent to the lifetime carbon pollution of 1,100 new coal plants would be kept in the ground.
“This Supreme Court decision was illegitimate and wrong, but does almost nothing to constrain President Biden’s toolbox to address the climate crisis,” said Collin Rees.
Rich countries at this week’s Climate Summit need to take decisive action to stop the expansion of oil and gas production, both at home and abroad, both to protect the global climate and local communities. True climate leadership means breaking away from destructive oil and gas and investing in real solutions and green jobs that will help people and the planet thrive.
A new report released today by Oil Change International, Rainforest Action Network, BankTrack, Indigenous Environmental Network, Reclaim Finance, and Sierra Club, and endorsed by over 300 organizations around the world, reveals that 60 global banks have provided USD $3.8 trillion to fossil fuel companies in the five years since the adoption of the Paris Agreement (2016-2020).
Reps. Jan Schakowsky (D-IL) and Nanette Diaz Barragán (D-CA) introduced the Future Generations Protection Act to help ensure a rapid shift to clean renewable energy by stopping further expansion of fracking and new fossil fuel infrastructure.
A new report released today by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club, and endorsed by over 250 organizations around the world, reveals that 35 global banks have provided USD $2.7 trillion to fossil fuel companies in the fours years since the adoption of the Paris Agreement (2016-2019).
The latest version of the most comprehensive report on global banks’ fossil fuel financing, Banking on Climate Change 2020, reveals that 35 global banks have not only been sustaining but expanding the fossil fuel sector with more than $2.7 trillion in the four years since the Paris Climate Agreement. The report finds that financial support for the fossil fuel industry has increased every year since the Paris Agreement was adopted in December 2015. The UN Intergovernmental Panel on Climate Change (IPCC) Special Report Global Warming of 1.5°C has shown that we need to rapidly reduce global carbon emissions if we are to avert the worst consequences of the climate crises. Yet Banking on Climate Change 2020 reveals that the business practices of the world’s major private-sector banks continue to drive us toward climate disaster.
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.
This is climate madness. This is nonsensical. As Australia burns, it carries on drilling, fracking and mining.
Yesterday, President Trump signed two executive orders in his latest brazen attempt to appease the fossil fuel industry, just as further research was published revealing the drastic need to scale back carbon emissions if young people are going to have a liveable future.