Climate Momentum: More banks pull out of controversial East African pipeline
Under pressure from civil society, eleven banks have now confirmed that they will no longer fund the controversial East African Crude Oil Pipeline.
Read the latest insights and analysis from the experts at Oil Change International.
Under pressure from civil society, eleven banks have now confirmed that they will no longer fund the controversial East African Crude Oil Pipeline.
Central banks could play a critical role in catalyzing the rapid shift of financial flows away from oil, fossil gas, and coal, and toward the zero-carbon solutions required to confront the climate crisis. To date, however, this is still not happening.
“Kimiko’s courage and leadership in undertaking pathbreaking actions to influence Japan and address the climate crisis are an inspiration,” said Susanne Wong, senior campaigner with Oil Change International and facilitator of the No Coal Japan coalition.
When President Joe Biden signed his first set of Executive Orders on Climate Change and cancelled the Keystone XL pipeline project soon after his inauguration, he sent a very clear message to the global fossil fuel industry: it’s no longer going to be business-as-usual with fighting the existential threat that climate change poses to humanity.
It’s the Treaty you have never heard of. But it’s the one that could affect your future and your children’s future.
The raft of new bold climate policies by Joe Biden has left the oil industry “stunned” with fossil fuel stocks “plunging” due to his actions.
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.
Welcome to 2021, which we hope will be a year of transformative change and unstoppable momentum on climate change, culminating in COP26, the crucial climate conference in Scotland at the end of the year.
“Of course, when the clock strikes midnight to turn to January 1, 2021, the world won’t instantly be cured of either COVID or our fossil fuel addiction. But, nevertheless, as we look towards 2021, there is hope on the horizon."
Before Saturday, it is simple. Boris should be brave. He should cancel overseas fossil fuel finance. But he should do more. To encourage others to do the above, he should also follow Denmark’s lead and cancel the next round of oil and gas licensing, and end all future exploration in the UK North Sea.