Research

Dakota Access should be stopped immediately for a long list of reasons. But we must also stop billions of taxpayer dollars from flowing to fossil fuels.

The World Bank Group continues to invest in exploration for new fossil fuel reserves despite clear signs that we already have far more fossil fuels than we can afford to burn, and over the last five years, the World Bank Group’s total fossil fuel finance has trended upwards, with finance into the billions of dollars nearly every year.

The recently released draft five-year plan for offshore oil and gas drilling is predicated on a failure to act on stated climate policy. To remedy this, the U.S. government should act quickly to implement a climate test in order to evaluate energy decisions on the basis of our national and international climate commitments.

Shell is currently moving its drilling rigs to Seattle in anticipation of resuming its US offshore Arctic drilling programme in July. However, it is far from clear that Shell has adequate physical or financial plans to deal with the impacts of a major oil spill in this remote region.

This analysis finds that over the last decade, export credit agency financing has played a significant role in supporting coal power generation globally. Most alarmingly, OECD export credit financing for coal has substantially increased in recent years.

This briefing examines Shell's Arctic experiences and outlines key operational and economic issues. We suggest questions investors should ask Shell, to understand whether the company has adequately assessed the various risks it faces.

But as shown in a briefing released by Oil Change International today, while Annex 2 (developed) countries continue to debate how to honor their commitment to provide $100 billion each year by 2020 to help developing countries reduce emissions and adapt to climate impacts, these same countries are providing five times more public support for fossil fuel production and consumption than they have so far pledged in climate finance. These fossil fuel subsidies are driving the global growth in greenhouse gas emissions and therefore directly undermining investments to reduce climate impacts.

The World Bank Group (WBG) increased financing for both fossil fuels and large hydropower significantly this past year, while financing for clean energy dropped. Overall, only 8 percent of the Bank’s energy financing last year was aimed specifically at the poor.

The Keystone XL Pipeline's social cost of carbon could be as much as $100 billion per year. Until government agencies properly account for the cost of climate change caused by major fossil fuel infrastructure, projects like Keystone XL will continue to impose disproportionate costs on society.

New data reveals that a full 60 percent of gasoline produced at Keystone XL refineries was exported.