“The COP Presidency is centering the new climate finance target, the New Collective Quantified Goal (NCQG), in this year’s UN climate talks. To deliver on last year’s groundbreaking commitment to transition away from fossil fuels, rich countries must raise trillions of dollars to support climate action in developing countries. While the COP29 host recognizes the need for a significant financial increase, it fails to emphasize that it must be on fair terms to countries that need it most.”
Press Releases
Switzerland breaks major climate promise on taxpayer finance
Switzerland is the first signatory of the Clean Energy Transition Partnership (CETP) to water down its policy to end international public finance for fossil fuels. The country has now also surpassed the United States in providing the most international fossil fuel finance since the end of 2022 deadline passed, providing a total of almost $3.6 billion.
Low standards come at high cost: SBTi to issue results of consultation on environmental certificates including carbon credits
At the end of July, the Science Based Targets initiative (SBTi), a key organisation in the corporate sustainability standards sector, will publish the results of a call for evidence on the effectiveness of environmental attribute certificates (EACs), including carbon credits, in meeting corporate climate targets.
Solidarity with Kenya: Opposing IMF-Driven Financial Injustice
Kenya’s debt needs to be audited and any unjust debts and interests should be canceled. This would grant the country economic sovereignty, alleviate the heavy debt repayment burden on Kenyans, and give them a chance at a decent and equitable life. Rather than imposing steep austerity measures, the IMF should prioritize social and economic justice that promotes the well-being of the people.Â
Oil Change International responds to IEA head singling out coal phasedown
“As the head of the IEA, Mr. Birol should know the time to focus only on coal as a climate culprit is over. We need a full, fast, fair, funded phase out of all fossil fuels. Setting such a low bar for ambition is out of touch and inequitable, keeping the door wide open for major oil and gas producers.”
Japanese Support of CP2 LNG Export Terminal Fuels a Carbon Bomb
Projects like CP2 will never be built because of fierce opposition by frontline communities. But instead of taking note, Japanese financiers and companies are doubling down on support for US LNG which poses tremendous financial, social and environmental risks.
Response to FERC granting its certificate for CP2 LNG
As the world’s biggest expander of oil and gas, the U.S. has a responsibility to lead a global and just transition away from fossil fuels. President Biden has the authority he needs and more tools than he has used to end the era of fossil fuels. All he needs is the political will.
UK Election Analysis: Parties Must Step Up Climate Action Plans
As we approach the General Election on July 4th, it is imperative that the future government has a clear and ambitious strategy to phase out UK fossil fuel production and use. Oil Change UK’s latest analysis scrutinizes the manifestos of major parties, revealing a concerning lack of robust climate action. During the first couple of … Read More
NEW REPORT: Industry-Operated Methane Monitors Regularly Miss Pollution Events
Almost 40% of US gas is “certified” by third-party companies, allowing producers to claim reduced methane pollution. The problem? The claims are false. New research from Earthworks and Oil Change International compares first hand field evidence to operators’ emissions monitoring data.
G7 fail to deliver on fossil fuel promises at Italy summit
Today, G7 leaders released a joint communique, marking a significant failure to build on the momentum from last year’s UN COP28 decision to transition away from fossil fuels. New Oil Change International data shows that G7 nations are not leading on climate either at home or abroad. G7 countries represent 27% of global oil and … Read More