“Historic moment” as BP writes-off billions of reserves as stranded assets
This is a big moment for Big Oil. Climate reality has finally caught up with BP’s corporate dreamland that it could carry on drilling forever.
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Report: South Africa Continues to Bankroll Billions in Fossil Fuels
Poor transparency from DBSA, IDC, and ECIC means support for oil, gas, and coal likely higher than the ZAR 2.2 billion a year on record
Hundreds of Climate Groups Endorse Movement for Black Lives Demands and Week of Action
More than 250 climate and environmental organizations today released letter of solidarity with the Movement for Black Lives (M4BL) demands and week of action.
Study shows wealthy countries must begin a managed phase-out of fossil fuels
As the oil and gas sector experiences a chaotic decline during COVID-19, a new peer-reviewed study outlines how policymakers can plan for a more resilient future through an equitable phase-out of production.
As Sea Port Oil Terminal comment period closes, advocates submit tens of thousands of comments opposed
Local residents and concerned advocates submitted over 38,000 comments in opposition to the project, highlighting the risk that SPOT project poses to waterways, endangered species, public health, local economies, and the global climate
May 2020 OilWire bulletin: The USD 77 billion per year edition
As governments begin to unveil trillions of dollars in recovery support and stimulus, now is the time to break old habits – such as the USD 77 Billion in public money that the G20 is still spending annually to finance...
Why $77 billion a year in public finance for oil, gas, and coal is even worse than it sounds
With the health and livelihoods of billions at risk from COVID-19, governments around the world are preparing historic levels of stimulus finance. Building a Just Recovery that avoids the worst of climate change means overhauling our public finance institutions fast.
Spain to join group of first movers off oil and gas
Spain’s supply-side measures are an important signal that climate leadership needs to be defined by a willingness to address the root causes of fossil fuel lock-in.
Report: G20 Governments Bankrolling the Fossil Fuel Industry with at least $77 Billion a Year
Since the implementation of the Paris Agreement, G20 countries have provided at least USD 77 billion a year in finance for oil, gas, and coal projects.
International Groups: Japan Must Not Support Vung Ang 2 Coal Power Plant in Vietnam
Today, Japanese environmental NGOs submitted a petition for the cancellation of the Vung Ang 2 Coal-fired Power Generation Project in Vietnam to the Japanese public and private sectors signed by 127 organizations from more than 40 countries and regions.