Oil Change International publishes upwards of 20 reports and briefings every year focused on supporting the movement for a just phase-out of fossil fuels.
This briefing gives financial institutions an overview of the IEA's first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA's conclusion about ending new oil and gas field development is not a product of scenario design; it’s the arithmetic of 1.5°C.
Sixty climate and human rights groups from around the globe have issued a set of "Principles for Paris-Aligned Financial Institutions" to offer a roadmap for the decarbonization of the finance sector on a timetable aligned with the Paris Agreement.
As EBRD and EIB prepare for their respective energy sector strategy reviews, 65 civil society groups from 28 countries released an open letter being sent to top EBRD and EIB officials demanding that they stop financing oil, gas, and coal projects.
The letter calls on Brown and the state "to become the first major fossil fuel producer to begin a managed and just transition off oil and gas production."
Over 230 civil society groups from 44 countries released an open letter being sent to Canadian Prime Minister Justin Trudeau, urging him to reject the pipeline and instead begin planning for a managed decline of fossil fuel production and a just transition for workers and impacted communities.
This ninth annual fossil fuel finance report card grades banks on their policy commitments regarding extreme fossil fuel financing and calculates their financing for these fuels from 2015 to 2017. The report also assesses the shortcomings of the Equator Principles for ensuring banks respect human rights, and Indigenous rights in particular.
To have any hope of meeting globally-agreed climate goals, global financial flows must rapidly align with low-emission, climate-resilient development, and government-backed public finance institutions like the World Bank must signal this transition.
Instead of funding clean energy solutions, G20 governments and multilateral development banks still overwhelmingly fund the problem, averaging nearly $72 billion per year in public finance for fossil fuels compared to less than $19 billion per year for renewable energy.
According to a new report released today by Rainforest Action Network, Oil Change International, and 10 organizations from around the world, commercial banks continue to finance the tar sands sector at levels that do not align with the Paris Agreement 1.5° to 2° target – and finance levels are surging in 2017.
The question now becomes: What does the path from here to zero carbon look like? Is it ambitious enough to avoid locking in emissions that we can’t afford? Is it intentional enough to protect workers and communities that depend on the carbon-based economy that has gotten us this far? Is it equitable enough to recognize that some countries must move further, faster? And is it honest enough about the reality that a decline of fossil fuels is actually a good thing?
