“The World Bank is falling short by doubling down on fossil fuel transportation investments that will lock in climate chaos while creating new sources of sickening pollution for communities around the globe,” said Collin Rees.
Oil
Climate advocates respond: Biden administration to restart oil, gas leasing on public lands
The communities most at risk from new fossil fuel extraction are primarily Black, Brown and Indigenous peoples, people of the global majority and those on the frontlines of fossil fuel industry expansion.
Response: Biden’s renewed oil and gas lease sales are a disastrous move in the wrong direction
“True energy independence means rejecting fossil fuel expansion and ending Big Oil’s greed while rapidly building out renewable energy on public lands and beyond,” said Rees.
Banking on Climate Chaos 2022: Fossil Fuel Finance Report
This report, Banking on Climate Chaos 2022, analyzes fossil fuel financing and policies from the world’s 60 largest commercial and investment banks. We reveal that fossil fuel financing from the world’s 60 largest banks has reached nearly USD $4.6 trillion in the six years since the adoption of the Paris Agreement, with $742 billion in 2021 alone.
U.S. Oil and Gas Companies Set to Make Tens of Billions More from Wartime Oil Prices in 2022
As American families continue to be hammered by skyrocketing gasoline prices, U.S. oil and gas companies are poised to reap tens of billions in windfall profits thanks to high wartime prices.
U.S. Oil and Gas Companies Set to Make Tens of Billions More from Wartime Oil Prices in 2022
With oil prices rising to near-record levels due to Russia’s ongoing war in Ukraine, companies producing oil and gas in the United States are in line to make tens of billions in additional profits. Under conservative estimates, we find the U.S. upstream oil and gas industry will collect a windfall of $37 to $126 billion in 2022 alone.
European and U.S. Energy Companies are Responsible for Nearly USD 100 Billion to Putin’s War Chest Since Crimea Invasion
New analysis finds that revenues from oil and gas projects backed by European and U.S. companies have fueled Vladimir Putin’s regime to the tune of nearly USD 100 billion since 2014.
Over 200 Groups Call on Biden to Invoke Defense Protection Act for Renewables + Resist Short-Sighted Domestic Fossil Fuel Policies
Over 200 progressive groups sent a letter to the White House urging President Biden to resist Big Oil and invoke the Defense Production Act in order to ramp up the deployment of renewable energy to transition the world off the fossil fuels that are leading to global instability.
Locked Out of a Just Transition: Fossil Fuel Financing in Africa
Between 2016, following the adoption of the Paris Climate Agreement, and June 2021, public and private financial institutions poured at least $132 billion in lending and underwriting into 964 gas, oil and coal projects in West, East, Central and Southern Africa. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public institutions such as development banks and Export Credit Agencies.
New Report: At least $132 billion in finance for fossil fuels is locking Africa out of a Just Transition
Between 2016, following the adoption of the Paris Climate Agreement, and June 2021, public and private financial institutions poured at least $132 billion in lending and underwriting into 964 gas, oil and coal projects in West, East, Central and Southern Africa. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public finance institutions like development banks and export credit agencies.