This report, Banking on Climate Chaos 2023, analyzes fossil fuel financing and policies from the world’s 60 largest commercial and investment banks. We reveal that fossil fuel financing from the world’s 60 largest banks has reached nearly USD $5.5 trillion in the seven years since the adoption of the Paris Agreement, with $673 billion in 2022 alone.
tar sands
Ukraine War: Amid fossil fuel “gold rush,” Canada’s dirty tar sands back “in hot demand”
We are now one hundred and ten days since the start of Vladimir Putin’s bloody brutal war on Ukraine. Since the invasion the global energy market has been largely turned on its head, as old certainties of supply have been ripped up.
Shell’s landmark Canadian CCS project “emitting more greenhouse gases than it is capturing”
A new investigation by Global Witness has examined Shell’s landmark Quest CCS project in Canada, which captures the CO2 from the company’s dirty tar sands operations. According to Global Witness, the Quest plant “is in fact emitting more than it is capturing.”
Despite climate emergency, the United States, Canada, and Norway “pumping more oil than ever”
Last year the world’s leading climate scientists, the IPCC,  issued a “code red” for humanity and outlined how we had to stop oil and gas drilling if we wanted a liveable future. But still we drill. Take three countries who like to see themselves as climate leaders…
Canada’s Big Oil Reality Check: Major oil and gas producers undercut Canada’s commitment to 1.5ÂşC
The assessment by Environmental Defence Canada and Oil Change International assesses eight of Canada’s top oil and gas producers, including Imperial (ExxonMobil) and Shell. It finds they are all on track to increase their oil and gas production in Canada, rather than planning a fair transition away from fossil fuels that are fuelling the climate crisis.
New Report: Climate Plans of Major Canadian Oil and Gas Producers Undercut Canada’s Commitment to 1.5ºC
The climate plans of major oil and gas companies operating in Canada rank among the worst worldwide and will accelerate the climate crisis rather than help Canada and the world limit warming to 1.5 degrees Celsius (ÂşC), according to a new report launched at the UN Climate Change Conference.
COP26: Civil society tells Biden to leave fossil fuels in the ground
President Biden has continued to approve fossil fuel expansion in recent months, while pointing to Congress to excuse the United States’ lack of climate ambition and espousing false solutions like carbon capture and “net zero” plans that perpetuate fossil fuel destruction and environmental racism.
Insure Our Future Campaign Welcomes Chubb’s Tar Sands Exit
“This is a major victory for Indigenous resistance and the climate. Trudeau needs to stop supporting this risky project immediately, and end all fossil fuel subsidies,” said Kyle Gracey of OCI.
New Report: Indigenous Resistance Disrupts Billions of Tons of Greenhouse Gas Emissions Annually
The new report shows that Indigenous communities resisting the more than 20 fossil fuel projects analyzed have stopped or delayed greenhouse gas pollution equivalent to at least 25 percent of annual U.S. and Canadian emissions.
New Report Reveals Global Banks Funneled $3.8 Trillion into Fossil Fuels Since Paris Agreement
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).