Oil Change International is a research, communication, and advocacy organization focused on exposing the true costs of fossil fuels and facilitating a just transition to clean energy. For media inquiries, please contact: Valentina Stackl at [email protected]
As Finance Day begins at what's being called the 'Finance COP,' negotiators face a stark choice: deliver public grants at the trillion-dollar scale needed for a just transition away from fossil fuels, or rely on inadequate private sector mechanisms that risk deepening the Global South's worst-in-history debt crisis.
For the first time in three years of negotiations towards the new climate finance goal due at the end of COP29, we finally have a draft text that includes options for rich countries to pay the scale and quality of finance they owe, and for urgently needed support to flow towards a fair fossil fuel support.
“We fully support Brazil’s call for the COP process to discuss fossil fuel phaseout dates, with rich countries taking the lead, and hope this will be a central tenet of COP30."
"Today’s Action Plan sends an important signal that countries must go further, and agree on an ambitious wider NCQG here in Baku.”
New data analysis exposes how big oil and gas companies’ "Decarbonization Charter," launched at COP28, is a dangerous distraction from the urgent need to rapidly phase out fossil fuels.
Follow along for the most important events, press conferences, and developments on Day 2 of COP29, where negotiations begin amid geopolitical shifts and critical decisions on climate finance, fossil fuel phaseout, and U.S. climate policy.
The announcements shared at today’s Summit on Methane will be used to justify selling American LNG to countries around the world under the guise of it being “clean. But phasing out fossil fuels is the only way to reduce climate pollution at the scale the climate crisis demands.
“The UK wants to call itself a climate leader but today Keir Starmer failed to match strong words with a strong plan of action."
"Using a climate conference to promote the continued production and use of fossil fuels is deeply contrary to everything the COP is about as well as provocative, and deeply disrespectful to the countries on the frontline of climate impacts.”
Today, the Court of Appeal in The Hague delivered its judgment in Milieudefensie v. Shell. It established that the oil and gas giant has a legal responsibility to reduce its emissions, but it rules that it cannot derive a specific emission reduction obligation for Shell. The court noted that climate goals can only be met if production of oil and gas is curtailed. This creates an important opening for future climate litigation targeting fossil fuel companies based on their investments.
