Press Room

A new report released today by Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, and Sierra Club, and endorsed by over 250 organizations around the world, reveals that 35 global banks have provided USD $2.7 trillion to fossil fuel companies in the fours years since the adoption of the Paris Agreement (2016-2019). The latest version of the most comprehensive report on global banks' fossil fuel financing, Banking on Climate Change 2020, reveals that 35 global banks have not only been sustaining but expanding the fossil fuel sector with more than $2.7 trillion in the four years since the Paris Climate Agreement. The report finds that financial support for the fossil fuel industry has increased every year since the Paris Agreement was adopted in December 2015. The UN Intergovernmental Panel on Climate Change (IPCC) Special Report Global Warming of 1.5°C has shown that we need to rapidly reduce global carbon emissions if we are to avert the worst consequences of the climate crises. Yet Banking on Climate Change 2020 reveals that the business practices of the world’s major private-sector banks continue to drive us toward climate disaster. 

With his announcement of purchasing oil to fill the Strategic Petroleum Reserve, Donald Trump has once again put the interests of oil and gas executives ahead of the interests of people and communities.

In response to the International Energy Agency (IEA) Oil 2020 report released today, as global oil prices plummet amid supply swings and the impacts of COVID 19, Kelly Trout, senior research analyst at Oil Change International, released the following statement.

As COVID-19 becomes an official pandemic and oil prices plunge amidst a global price war, questions are emerging regarding the impact of these developments on climate and energy policy. Oil Change International experts offer statements and are available for further comment.

Over 40 Nobel Laureates are calling on Prime Minister Trudeau and Deputy Prime Minister Freeland to do the right thing for our shared climate and reject the Teck Frontier tar sands mine.

A new report released today by Oil Change International and partners finds that New Mexico’s projected oil and gas production is entirely out of sync with the action necessary to prevent catastrophic climate change. The report analyzes the full climate impact of New Mexico’s oil and gas extraction, and finds that the state’s goals of reducing emissions will be completely undermined by continued expansion of oil and gas.

BP’s plan is the latest industry spin insisting that Big Oil has ‘seen the light’ on climate, only to distract us from real solutions.

In a letter sent today to the U.S. House of Representatives, more than 60 environmental groups called on the chamber to pass the Protect the Right to Organize Act to strengthen labor protections.

A network of secretive, government-backed financial institutions called export credit agencies are handing more than $31 billion USD per year to the oil, gas, and coal industry, new analysis by Oil Change International and Friends of the Earth U.S. shows. 

13 state and national environmental groups released a new report finding that greenhouse gas emissions from Canadian oil company Enbridge's proposed Line 3 expansion would vastly outweigh Minnesota's planned reductions in the state's emissions.