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.
Over the past decade, nearly 90% of the U.S. Export-Import Bank's total finance for energy projects has flowed to projects in oil, gas, and coal. As momentum grows for climate solutions in the U.S. and abroad, there is an urgent need for a ban on fossil fuel financing at ExIm.
There is no room for further financing of fossil gas or any other fossil fuel projects by the EIB. This briefing calls for the new Energy Lending Policy to reflect this reality. The EIB cannot claim to uphold its commitment to align its finance with the Paris Agreement if it continues to finance fossil gas projects.
To help inform the alignment of the MDBs with the Paris Agreement, this briefing explores the use of shadow carbon pricing by MDBs and considers some best practices and limitations in the application of shadow carbon prices.
The ACP is facing a triple threat of challenges that combine to present serious obstacles for the project to reach completion, which are are likely to further delay construction and raise the project’s price tag even higher. It would be prudent for investors to question whether pursuing the project further is a wise use of capital.
Investors often use the WEO to assess energy investments. Contrary to the IEA’s claims, its ‘Sustainable Development Scenario’ (SDS) is not aligned with the Paris goals.
The twin challenges of air pollution and climate change demand a rapid transition away from fossil fuels, and a particularly rapid phase-out of coal-fired power plants. Despite this, the Korean government continues to be among the biggest backers of coal-fired power plants around the world.
The IEA scenarios — including the Sustainable Development Scenario (SDS) — fall short of the Paris Agreement goals and therefore don’t actually answer the question investors are asking, namely: are companies prepared for a world that takes the Paris Agreement seriously? The SDS is not providing an effective stress test, nor a useful guide to how things may change.
Ireland is on course to miss both its short-term climate commitments within EU legislation, and its long-term target of reducing greenhouse gas emissions from the energy sector by between 80 and 95 percent by 2050. Expanded gas extraction will only make it more difficult to achieve these goals, and must be avoided in order to achieve a safe climate future.
Given US Bank’s continued financing of oil and gas pipeline construction, and the harm those pipelines cause for communities and the climate, US Bank should extend its policy to prohibit all financing to companies building oil and gas pipelines, and all other fossil fuel infrastructure that neglects Indigenous rights and is incompatible with achieving the goals of the Paris Climate Agreement.
How the IEA Guides Energy Decisions Towards Fossil Fuel Dependence and Climate Change
