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 press@priceofoil.org
Today the United States and over 20 other countries and institutions from both developed and developing countries committed to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance.
The climate plans of major oil and gas companies operating in Canada rank among the worst worldwide and will accelerate the climate crisis rather than help Canada and the world limit warming to 1.5 degrees Celsius (ºC), according to a new report launched at the UN Climate Change Conference.
The Build Back Fossil Free campaign rallied ahead of U.S. President Joe Biden’s remarks at the United Nations climate summit today in Glasgow, urging Biden to take executive action to stop fossil fuel projects.
"President Biden's claim that the U.S. is 'leading by example' is a slap in the face to communities suffering daily from the impacts of the climate crisis and fossil fuel extraction," said Rees.
New report updates analysis of public financing for energy projects ahead of expected joint announcement to end these flows at COP26.
Today the OECD Export Credit Group announced new restrictions on its support for overseas coal projects. The restrictions do not address export finance for coal mines and related infrastructure, nor oil and gas financing even if the latest IEA report shows that investments in new fossil fuel production need to end this year to limit warming to 1.5°C.
"Oil and gas executives won't let neighborhood oil drilling end without a fight — but we’ll keep fighting for working people until every person’s right to clean air in every neighborhood is guaranteed," said Neena Mohan.
"Gov. Newsom must step up his game — there is *no* safe distance at which oil and gas drilling is acceptable for the climate. California must ban all new oil and gas permits and phase out existing drilling with a just transition," said Rees.
"Arriving at COP26 with a climate risk plan that doesn’t adequately address financial institutions' funding of fossil fuels means the Biden Administration risks forfeiting its chance at climate leadership," said Rees.
Oil Change International, Earthworks, and the Center for International Environmental Law are releasing a new multi-media report series entitled The Permian Basin Climate Bomb. The six-part series analyzes the climate, public health, economic, and social impacts of the Permian fracking boom.
