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.
Despite repeated calls for urgent action on climate change, the World Bank Group increased funding for fossil fuels in its last fiscal year. The World Bank’s increase in fossil fuel finance is especially disappointing as 2014 was the first full fiscal year following the World Bank’s commitment to limit coal financing due to climate concerns.
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.
G20 countries are estimated to be spending $88 billion every year subsidising exploration for fossil fuels. This new report documents, for the first time, the scale and structure of fossil fuel exploration subsidies in the G20 countries.
Today, Oil Change International and the Sierra Club released a report finding that none of the major multilateral development banks are succeeding in reaching the world’s poor with their energy projects.
A new report by Oil Change International identifies billions of dollars in subsidies for fossil fuel exploration from the world’s wealthiest countries.
A new report by Oil Change International, Cashing in on All of the Above: U.S. Fossil Fuel Production Subsidies under Obama, demonstrates the huge and growing amount of subsidies going to the fossil fuel industry in the U.S. every year. In 2013, the U.S. federal and state governments gave away $21.6 billion in subsidies for oil, gas, and coal exploration and production.
World Bank Group finance for fossil fuel exploration projects from FY2008 to 2013 was highest in 2013, at nearly $1 billion out of $2.7 billion total for fossil fuel projects.
The World Bank Group is experiencing clear difficulties in synching its core lending and its energy strategy with climate goals, and the institution has taken steps that can easily be viewed as creating a conflict of interest. Given these difficulties and contradictions, the institution should focus on cleaning up its own act before making further forays into climate finance initiatives.
This study finds that none of the World Bank Group’s fossil fuel finance directly targets the poor or ensures that energy benefits are reaching the poor.
