This report analyzes fossil fuel financing from the world’s 60 largest commercial and investment banks — aggregating their leading roles in lending and underwriting of debt and equity issuances — and reveals that these banks poured a total of USD $3.8 trillion into fossil fuels from 2016–2020.
tar sands
Over 350 Groups Urge President Biden to Stop the Line 3 Pipeline and Protect Indigenous Rights, Climate
“We urge you and all federal leadership to stand firm against the Line 3 pipeline and act now to halt its construction. The pipeline’s construction is an urgent threat to the waters of Minnesota and Lake Superior, as well as to our global climate,” said the groups to Biden.
Response to Biden Executive Actions on Climate, Keystone XL
Native tribes and communities are counting on the President to use the same rationale he’s using to kill Keystone XL to stop all projects like it — including the Line 3 pipeline in Minnesota — and roll back the approval of the Dakota Access pipeline.
53 organizations call on Export Development Canada to stop backing oil and gas
As Export Development Canada (EDC) undergoes a climate change policy review, 53 civil society organizations sent a letter with a call to action to the federal crown corporation and Minister of Trade Mary Ng.
Leading Progressive Groups Launch Pressure Campaign for Biden to Address Fossil Fuels and Climate Crisis
Today, organizations representing millions of environmental, racial, and economic justice advocates across the country are launching a new Build Back Fossil Free campaign to hold President-elect Joe Biden accountable to his promises for bold climate action.
Day of Action Against Financing of Keystone XL, Line 3 Pipelines
Today across the nation, activists in 60 cities and 25 states plan to utilize COVID-safe and creative ways to deliver letters calling on major banks to distance themselves from the funding of the toxic Keystone XL and Enbridge’s Line 3 tar sands pipelines.
From Nigeria to Canada: A global arts celebration tomorrow to “Dance the guns to silence”
Tomorrow evening, our colleagues at PlatformLondon will be hosting an online global arts event in collaboration with MOSOP (Movement for the Survival of the Ogoni People), Shake! And Virtual Migrants, to not only celebrate the Ogoni 9, but also for people to hear from other frontline environmental defenders from key battles against the oil industry. It promises to be an inspirational evening.
Fossil fuel companies getting more U.S. bailouts than any other sector
A new analysis from Bailoutwatch concludes that “fossil fuel companies participated in the government’s Paycheck Protection Program to bail out small businesses at far higher rates than companies in other key sectors”.
Campaigners: G20 financial and political support for fossil fuels rises amidst COVID-19 crisis
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.
Oil and gas news & insights: Week of May 11
OCI is producing weekly news and resources updates for allies as part of our response to the COVID-19 crisis.