Campaigners: G20 financial and political support for fossil fuels rises amidst COVID-19 crisis

July 15, 2020By Oil Change InternationalBlog Post, News, Press Releases, Stop Funding Fossils 1 Comment

Grassroots campaigners at a press briefing yesterday said political leaders are failing to ensure a just and sustainable recovery, as new data shows that the world’s 20 richest countries have committed more than USD 150 billion of public money to support fossil fuels since the start of the COVID-19 crisis.

Ireland’s proposed climate policy would make it a global leader in keeping fossil fuels in the ground

June 22, 2020By Romain IoualalenBlog Post, Energy Transitions & Futures

After months of negotiations, political parties in Ireland have secured an agreement to form a new coalition government. This programme of government, titled Our Shared Future, was signed by the leaders of Fine Gael, Fianna Fáil and the Green Party and will now need to be ratified by party members. This post analyzes exclusively the … Read More

Oil Change International response to FERC approval of Jordan Cove LNG

March 19, 2020By Oil Change InternationalPress Releases

The Jordan Cove LNG project would be a climate disaster, responsible for at least 36 million tons of greenhouse gas emissions – more emissions than any other source in the state of Oregon if it were to be built. For over fifteen years, this project has been delayed, denied, and protested at every step of the way. Three key state permits have already been denied, rendering FERC’s approval likely impotent, and highlighting the fact that FERC acts as an industry rubber stamp, ignoring local opposition and state permitting decisions.

New Report Reveals Global Banks Funneled $2.7 Trillion into Fossil Fuels Since Paris Agreement

March 18, 2020By Oil Change InternationalPress Releases

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.