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"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.
For the first time, the International Energy Agency (IEA)’s flagship annual report on global energy pathways, used worldwide to influence trillions of dollars in investment, details an achievable roadmap to keep global heating below 1.5 degrees Celsius (°C).
New analysis details why a just energy transition in Africa requires an end to new oil, gas, and coal extraction projects
Increased emissions under President Joe Biden would be equivalent to more than doubling existing emissions from U.S. coal plants if the U.S. moves ahead with 21 major fossil fuel infrastructure projects pending review by the Biden Administration.
