Blog

Yesterday, the message from the world’s leading climate scientists was their most brutal and stark yet. It was unequivocal.

In a landmark decision, the Federal Court of Australia ruled that Santos Ltd, one of the world’s top 20 largest oil and gas companies, would not be allowed to drill in the Barossa gas fields off the coast of northern Australia, solidifying legal victory for the Tiwi Islander Plaintiffs.

Despite the need to rapidly wind-down fossil fuels to avert the worst of the climate crisis, governments worldwide continue to prop up fossil fuel production with huge sums of public money. They may be breaking international law.

President Joe Biden has made good start on climate change. But one area that the President is coming under pressure is to take action over fossil fuel subsidies and finance.

Export Development Canada (EDC), Canada’s government-backed export credit agency, has long been one of the worst in the world when it comes to backing the fossil fuel industry with public money. Their new climate policy opens the door for meaningful change, but the initial targets are far too weak to get the job done.

According to the Star newspaper, a federal Canadian corporation might lend money to support the highly controversial Coastal GasLink pipeline, with a decision expected next week.

Today Oil Change International gave evidence to the UK parliament's Environmental Audit Committee, to contribute to its inquiry into the use of UK Export Finance (UKEF) to support fossil fuel exports and investments.