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 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.
In the world today, global warming is our collective cancer, and despite dire and clear warnings, the oil industry is still smoking away. The best climate science in the world tells us that in order to avoid the worst impacts of climate change, we need to limit global warming to no more than 2 degrees Celsius. But the amount of new oil production the industry is bringing online over the next eight years is exponentially more than we can afford to burn and stay under two degrees. We simply cannot afford to burn all the oil that the industry is capable of producing over the next few years, and in the long term.
