“True energy independence means rejecting fossil fuel expansion and ending Big Oil’s greed while rapidly building out renewable energy on public lands and beyond,” said Rees.
Oil and gas
BP, Shell, and Exxon among top Western energy companies responsible for almost $100bn going to Russian Government since 2014 Crimea invasion
Just eight of the world’s biggest energy companies helped enrich Vladimir Putin’s war chest to the tune of $95.4 billion (USD) in the seven years after Russia annexed Crimea.
The fossil fuel industry continues to block progress on climate, but there are signs of hope
Increased recognition from governments, institutions, and even parts of the financial sector of the role of fossil fuels in climate change represents a sea change from where we were even just a few years ago. The importance of phasing out oil and gas are now featured in climate policy discussions across all sectors.
New briefing exposes Norway as Europe’s most aggressive oil and gas explorer
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.
The Aggressive Explorer: How Norway’s Rapid Ramp-up of Oil and Gas Licensing Is Incompatible with Climate Leadership
This briefing reveals that over the last 10 years, the Norwegian government awarded as many exploration licenses (700) as in the 47 years prior, making Norway Europe’s most aggressive explorer for new oil and gas. Norway claims to be a climate leader, but its actions suggest otherwise.
New research: E3F countries need to shift their EUR 20 billion in export finance for fossil fuels to renewables
A policy brief released today by OCI and ODI shows that despite their commitment to align financial flows with climate goals under the Paris Agreement adopted in 2015, the E3F countries still provided €20 billion in export finance for fossil fuel projects abroad between 2018 and 2020.
France joins commitment to end international oil, gas, and coal finance by 2022
Today’s announcement comes after the Netherlands, Germany and Spain confirmed their participation in the initiative earlier this week and alongside confirmations from Belgium and Sri Lanka today. The French development bank — AFD — had already signed up to the statement, but not the French government as a whole.
New report exposes five wealthy countries whose fossil fuel production threatens chance at 1.5ºC
The new report finds that wealthy nations — the United States, United Kingdom, Canada, Norway, and Australia — planning to approve and subsidize new fossil fuel projects which undermines their recent claims of leadership in addressing the climate crisis.
The Fossil Fuelled Five: Comparing Rhetoric with Reality on Fossil Fuels and Climate Change
The new report finds that wealthy nations — the United States, United Kingdom, Canada, Norway, and Australia — planning to approve and subsidize new fossil fuel projects which undermines their recent claims of leadership in addressing the climate crisis.
Spain joins commitment to end international oil, gas, and coal finance, bringing total for potential finance shifted to USD 23.6 billion per year
This increases the number of signatories to 30 and the annual average of potential public finance shifted out of fossil fuels and into clean energy to at least USD 23.6 billion per year. This equals 37% of annual public finance for fossil fuels provided by G20 countries and the Multilateral Development Banks (MDBs) between 2018 and 2020.