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Updated: 2 hours 8 min ago

In response to President Biden’s Earth Day speech

Mon, 04/22/2024 - 13:43

In response to President Biden’s Earth Day announcement, Allie Rosenbluth, United States Program Manager at Oil Change International, released the following statement: 

“It is critical that President Biden continues to highlight the climate crisis in his speeches, but we cannot ignore that the United States is the world’s largest producer, expander, and exporter of oil and gas. Resourcing renewable energy in a way that creates good-paying union jobs is important, but the United States and the world will fall short of our climate goals without real steps to phase out fossil fuels. The International Energy Agency has made it clear that no new investments in coal, oil, or gas align with a livable future. 

“Youth, frontline communities, scientists, workers, and other voters are tired of Biden falling flat on ending fossil fuels. President Biden has an opportunity to show he is taking the climate crisis as seriously as he says by confronting corporate interest and delivering for people, not polluters. President Biden must use the full extent of his power to transition away from fossil fuels and towards a renewable energy economy where everyone can thrive. 

“President Biden must lead a just and equitable transition away from fossil fuels. At home, Biden must make the LNG pause permanent and stop permitting new fossil fuel projects. Abroad, he must follow through his Clean Energy Transition Partnership promise to stop using public dollars to finance fossil fuels. Following youth-led protests ahead of Earth Day, the message to Biden is clear: the time to transition away from fossil fuels is now.” 

 

The post In response to President Biden’s Earth Day speech appeared first on Oil Change International.

In response to the Scottish Government’s announcement it will scrap its commitment to reduce greenhouse gas emissions by 75% by 2030

Thu, 04/18/2024 - 08:21

FOR IMMEDIATE RELEASE
Contact: Valentina Stackl, press@priceofoil.org

In response to the Scottish Government’s announcement it will scrap its commitment to reduce greenhouse gas emissions by 75% by 2030, Rosemary Harris, Oil Change International Senior Campaigner for North Sea phase out, said:

“At a time when governments must ramp up their climate efforts, the Scottish Government’s backtracking is a catastrophic betrayal. Once a UK leader on climate policy, Scotland is turning its back on scientific evidence and international obligations, to line the pockets of oil and gas executives and save face after missing eight of the last 12 annual emissions targets.

“Since setting these targets in 2019, the Scottish Government has put no plan in place for actually achieving them – and now want to rip up the marking sheet to avoid scrutiny. This is first and foremost a political failure, one that lets down communities in Scotland and on the frontline of climate breakdown across the globe.

“Now is the time for the Scottish Government to get serious, apologise for their failures so far, and set ambitious plans to get back on track.”

Note to Editor:
In March, Oil Change International released a report, Troubled Waters, that highlighted Scotland’s outsized progress towards Just Transition targets that put it ahead of the UK as a whole. However, this move puts that position in jeopardy. Rather than throwing its hands up in defeat, the government should  redouble efforts in line with the 2019 Climate Change Act, focussing on warm homes, public transport provision and providing workers with the skills they need for the transition.

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The post In response to the Scottish Government’s announcement it will scrap its commitment to reduce greenhouse gas emissions by 75% by 2030 appeared first on Oil Change International.

Kishida and Biden wine and dine while fueling climate chaos

Thu, 04/11/2024 - 15:07
C: Charlie Belt

Last night, President Biden hosted a lavish reception at the White House to celebrate the state visit of Japanese Prime Minister Fumio Kishida. This honor is only given to America’s closest allies.

Celebrity guests, Ambassadors, and billionaires were greeted with exquisite fine dining in the East Room, decorated with cherry blossoms and Japanese fans. Paul Simon sang some of his famous songs, including Graceland. Before the dinner, Biden toasted “to our alliance, to our friendship” with Japan.

Earlier in the day, Biden and Kishida announced several initiatives on enhanced military and economic cooperation. The two leaders also issued a joint statement that pledged to work together to “accelerate climate action,” among other things. 

However, this joint statement added, “The United States remains unwavering in its commitment to support the energy security of Japan and other allies, including its ability to predictably supply LNG [liquefied natural gas]. ”

The bottom line is that you cannot accelerate climate action and expand dirty Liquified Natural Gas (LNG) simultaneously. Climate experts and energy analysts have long called this a misnomer. According to the International Energy Agency, the world’s energy watchdog, you cannot expand new gas investment if you want a liveable future. OCI tweeted yesterday in response to the statement:

It is disappointing that @kishida230 & @POTUS still believe that LNG expansion is in line with global climate goals.

The @IEA has made it clear – to reach net-zero by 2050, investment in new oil and gas projects must stop immediately. #EndFossilFuelshttps://t.co/xBRInxu2cF

— Oil Change International (@PriceofOil) April 10, 2024

Indeed, Kishida seems more interested in expanding LNG than climate action. It is for that reason that as the leaders were meeting, there was a civil society protest outside:

Japan is a HUGE funder of US LNG and has left a legacy of toxic facilities, especially along the Gulf Coast. @POTUS must defend his pause on US LNG export authorizations and ensure communities are protected from fossil fuels pollution. #StopLNG #SayonaraFossilFuels pic.twitter.com/74uoap57YL

— Zero Hour (@ThisIsZeroHour) April 10, 2024

It is not difficult to see why Japan’s actions concern civil society and climate experts. Japan remains addicted to fossil fuels and is trying to spread that addiction across Southeast Asia. One of the first stops that Prime Minister Kishida made after getting off the plane in the U.S. was with the U.S. Chamber of Commerce and Venture Global, a growing supplier of LNG to Japan and the company behind the currently paused CP2 project.

Right off the plane, @JPN_PMO prioritizes meeting with fossil fuel CEOs. Is @JPN_PMO meeting with communities harmed by Japanese-financed fossil fuels?

No! ?

Our climate + communities are suffering from Japan-funded LNG! Read more here: https://t.co/Zr0JX005Xd #StopLNG https://t.co/moHVQra2oE

— Oil Change International (@PriceofOil) April 10, 2024

The best way to “accelerate climate action” and to ensure energy and economic security in Asia is the rapid, just development of renewable energy. Although the US and Japanese governments have a unique opportunity to upscale the scale of renewables buildout in Asia, the reality at the moment is somewhat different.

@kishida230 must stop derailing the energy transition & sacrificing our communities & planet for Japanese corporate interests.

Check out this strong op-ed by @ceedphilippines and@PriceofOil before Kishida's visit w/Biden. #StopLNG #FossilFreeJapan https://t.co/fVK6v3tSN4

— Fossil Free Japan (@FossilFreeJapan) April 4, 2024

“Don’t these global luminaries understand that putting our shared energy future in the hands of greedy gas corporations is anything but predictable and secure?” said Jeffrey Jacoby of Texas Campaign for the Environment.

Japan is continuing to drive the expansion of fossil fuels across Asia and is derailing the transition to renewable energy. This harms communities and ecosystems, undermines energy security, and worsens the climate crisis. The facts speak for themselves:

Moreover, before Kishida’s visit to the US, Japan approved over $2.7 billion in financing for new gas projects, which will worsen the climate crisis and undermine economic and energy security. The Japanese government approved funding for the controversial gas field in Australia, Block B gas project in Vietnam, the San Luis Potosi and Salamanca gas plants in Mexico and financing to import LNG

Japanese financed LNG projects not only harm the climate but also communities, especially those along the US Gulf Coast. There is no doubt that sustained and growing opposition from frontline communities and climate activists led to the Biden administration putting a historic pause on new authorizations for LNG exports. This pause was driven by LNG’s Achilles heel: the emissions of methane, the potent greenhouse gas, and environmental justice issues for nearby communities.

“I was 6 when I started catching shrimp in LA. I inherited the livelihood that sustained my father, grandfather & generations before. But I may lose it all – in part to @JPN_PMO's dangerous investments in gas.”

Read more from shrimper, Travis Dardar: https://t.co/rYgG0S8aXf

— Oil Change International (@PriceofOil) April 10, 2024

As Bloomberg has reported: “When the Biden administration paused approval of new liquefied natural gas export licenses in January, the decision was driven by a recognition that the climate impact from the fossil fuel needs to be reassessed.”

Last October, a scientific analysis by Robert Howarth, a professor at Cornell University, concluded that total greenhouse gas emissions from US LNG in a best-case scenario are comparable to coal, which has long been seen as the dirtiest fossil fuel. The worst case is that emissions could be more than two-fold greater.

It is hardly surprising that the pause incensed the oil and gas industry but has been welcomed by climate scientists and frontline communities. Those communities are slowly notching up climate victory after climate victory: They have stopped projects from Anova in Texas to Jordan Cove in Oregon and are working tirelessly to stop all pending LNG export projects and fossil fuel infrastructure. Further, strong Global South-led movements have emerged calling on Japan and rich countries to Don’t Gas Asia and Don’t Gas Africa.  

Today, Prime Minister Kishida headed to Capitol Hill to address Congress and then met with Biden and Bongbong Marcos, the leader of the Philippines, for a trilateral meeting. Civil society groups have a clear and compelling message for Kishida: 

“While it was encouraging to hear Prime Minister Kishida acknowledge the extreme impacts of the climate crisis in his speech to Congress today, it is extremely concerning how much of his time in the country was spent meeting with fossil fuel CEOs, pushing support for gas,” said Allie Rosenbluth, U.S. Program Co-Manager of Oil Change International. “Japan’s Prime Minister seems to misunderstand that any expansion of gas is incompatible with addressing the climate crisis. Japanese financed LNG projects have left a legacy of harm globally, including along the Gulf Coast. President Biden’s recent decision to pause new authorizations for LNG exports is a step in the right direction and must be expanded to fulfill the COP28 agreement to “transition away from fossil fuels. Instead of bolstering the profits of big oil and gas, the Japan and U.S. partnership should be largely focused on how the world will deliver a just transition to renewable energy.”

Ayumi Fukakusa, the Deputy Executive Director at Friends of the Earth Japan, Japan, adds: “If Prime Minister Kishida truly wants to promote energy security, peace, and prosperity as he claims, he would use the trilateral meeting to help Asia and the US transition to renewables, not double down on dirty fossil fuels like gas.”

“Prime Minister Kishida shamelessly speaks of prosperity even as Japan’s dirty energy turns the climate and entire ecosystems unable to support present and future generations. Such is the case for the Verde Island Passage in the Philippines, where a JBIC-backed LNG terminal now helps wreak havoc on local communities and biodiversity,” said Gerry Arances, Executive Director of the Center for Energy, Ecology and Development in the Philippines.

“Communities in the Philippines and Southeast Asia cannot accept this kind of prosperity when we know we have more than enough renewable energy potential to make a 100% transition away from fossil fuels, whether coal or gas, happen. Japan is obstructing that transition, spending over 5 times more in fossil fuels using public money than in renewables every year. It’s high time for Japan to end its pretense and take on real climate leadership,” said Arances.

When Kishida returns home to Tokyo, it’ll be critical that he recognize that accelerating climate action means transitioning off of fossil fuels to renewable energy. If Japan wants to support a prosperous Indo-Pacific, Japan and the US must end their addiction to fossil fuels and support governments in the region to do the same.

The post Kishida and Biden wine and dine while fueling climate chaos appeared first on Oil Change International.

Expert Quotes on Japan’s Global Derailing of the Clean Energy Transition on Day of Japanese Prime Minister Kishida’s State Visit with U.S. President Biden

Wed, 04/10/2024 - 10:59

Contact:
Oil Change International, press@priceofoil.org

Expert Quotes on Japan’s Global Derailing of the Clean Energy Transition on Day of Japanese Prime Minister Kishida’s State Visit with U.S. President Biden

Background:

One of the key goals for Japanese Prime Minister Fumio Kishida’s visit with U.S. President Biden is to build pressure to lift the U.S. LNG export approvals pause and to support Japan’s efforts to expand fossil fuel-based technologies across Asia. Below are resources and quotes from international experts.

  • Photos: Pikachu Rally in DC – April 10, 2024 (Photo Credits: Charles Belt for Oil Change International)
  • Read Newsweek Op-Ed: Japanese PM Kishida Must Stop Derailing the Global Energy Transition
  • Climate Home News Op-Ed: Louisiana communities are suffering from Japan-funded LNG exports
  • A new report issued yesterday by Oil Change International and Friends of the Earth United States reveals that Japan is the largest financier of upstream fossil fuels, providing almost half of the G20’s finance for upstream fossils between 2020 and 2022. Japan is also the 3rd largest international fossil fuel financier among G20.
  • Listen to April 4 NRDC press conference with experts on this topic here – passcode: *Se3jj

Japanese financing of LNG projects has a legacy of environmental and human harm, especially along the US Gulf Coast. Japanese private banks (MUFG, Mizuho, SMBC) are the top three financiers for LNG export terminals in the U.S., and the U.S. is the largest exporter of LNG in the world. Though Biden’s LNG pause was a positive step, the continued exploitation of vulnerable communities for LNG projects is alarming. Japan is also one of the largest public financiers of gas projects in the Gulf and throughout the world, most recently approving billions in public finance for gas projects in Australia, Vietnam and Mexico. Protesters will call attention to Japan’s role in promoting dirty energy in the US and abroad, and urge Kishida and Biden to say #SayonaraFossilFuels.

Susanne Wong | Asia Program Manager, Oil Change International

“Prime Minister Kishida is driving the expansion of gas and LNG, which is harming communities and ecosystems, undermining energy security and worsening the climate crisis. Despite their rhetoric, the US continues to fuel the climate crisis as the world’s top producer of oil and gas. We urge Kishida and Biden to stop derailing the global energy transition and sacrificing our communities and planet for corporate profit.”

Allie Rosenbluth | US Program Co-Manager, Oil Change International

“Pushed by opposition from frontline communities and climate activists, Biden’s move to pause authorizations for new LNG exports is an important first step. But he has to do more. He must use his executive authority to stop all approvals for new fossil fuel projects while ensuring a just transition for workers and impacted communities. In the meantime, Japan is driving the expansion of fossil fuels across Asia and globally and is derailing the transition to renewable energy. Japanese financed LNG projects have left a legacy of harm, particularly along the US Gulf Coast.”

Travis Dardar | Louisiana Shrimper and Founder, Fishermen Interested in Saving Our Heritage (FISH), United States

“My wife had a heart attack, and my little boy was on depression medicine. They made life a living hell for us. There are more families waking up next to this thing gasping for air. I don’t know what the cleanest solution is but I know that this isn’t it. To continue down this path is very destructive, but they’re willing to sacrifice what makes Louisiana Louisiana for profit.” 

“When people think of south Louisiana they think of shrimp and seafood, not what you see now, which is industrial waste land. This benefits no one but the corporations who own it.”

Gerry Arances | Executive Director, Center for Energy, Ecology and Development, Philippines

“It’s astonishing that countries that have been historically responsible for the climate crisis we now suffer from are still digging up more fossil fuels, burning more, and financing massive expansion in the US, Southeast Asia, and the rest of the world. Japanese banks, including government owned JBIC, are at the forefront of this – to the detriment of people, biodiversity, and the energy transition of our countries.

In the Philippines, we’re on the cusp of an enormous energy transition, and the potential for 100% renewable energy is massive and fully capable of aligning to the 1.5°C goal. Japan is not only harming communities but also undermining already available solutions. Investing in gas and other false fossil solutions will only serve corporations, not the people of Southeast Asia and the Philippines.”

Brendan Guy  | Natural Resources Defense Council Director, International Climate

“Global fossil fuel use must decline at least 40% this decade to achieve the goal of the Paris Agreement. Yet Japan and Prime Minister Kishida are doubling down on their fossil fuel reliance, and derailing the wider regional and global transition to clean energy in pursuit of their narrow commercial interests. Given the clear climate science and the need to follow-through on the global agreement to accelerate away from fossil fuels, it’s high time for Japan to change course.”

Ayumi Fukakusa | Deputy Executive Director, Friends of the Earth Japan, Japan

“If Prime Minister Kishida truly wants to promote energy security, peace and prosperity as he claims, he would use the trilateral meeting to help Asia and the US transition to renewables, not double down on dirty fossil fuels like gas.

Kishida’s actions speak far louder than his rhetoric. By continuing to support climate-wrecking projects like Freeport and Cameron LNG, Kishida is jeopardizing a liveable future and putting the world on track to a catastrophic 5-6C of warming.”

Lidy Nacpil | Coordinator, Asian Peoples’ Movement On Debt And Development, Philippines

“Japan’s energy strategy is leaving a worldwide trail of destruction. From LNG buildout in the US Gulf coast to the LNG expansion in the Philippines, Japan is plundering communities and ecosystems in the name of profit. 

All over the world, communities are fighting back and demanding a just transition. Prime Minister Kishida has the opportunity to make that happen.

The choice for Kishida is simple — listen to the people and stop pursuing LNG, or face resistance.”

Jeffrey Jacoby | Deputy Director, Texas Campaign for Environment, United States

“Local communities, particularly along the US Gulf Coast, are already losing their livelihoods, their homes, and the lives of loved ones to the toxic impacts of Japan-backed gas projects. To date, the Japanese government and private banks have pumped over $52 billion into US LNG projects, including Cameron LNG which is devastating local fisheries, and Freeport LNG which literally exploded less than two years ago.

By backing these projects while touting ‘energy security’, Prime Minister Kishida is turning a blind eye to the communities all over Texas, Louisiana, and around the world who are undoubtedly less secure due to LNG.”

The post Expert Quotes on Japan’s Global Derailing of the Clean Energy Transition on Day of Japanese Prime Minister Kishida’s State Visit with U.S. President Biden appeared first on Oil Change International.

Media Advisory: Pikachu Protest Against Japanese LNG Expansion to Take Place During Prime Minister Kishida’s White House Visit

Tue, 04/09/2024 - 12:50

CONTACT:
Shayna Samuels, press@priceofoil.org
Shaye Skiff, kskiff@foe.org

Pikachu Protest Against Japanese LNG Expansion to Take Place During Prime Minister Kishida’s White House Visit, Wednesday, April 10

#SayonaraFossilFuels 

On April 10-11, Japanese Prime Minister Fumio Kishida will meet with U.S. President Joe Biden in Washington, DC, address Congress, and join a trilateral meeting with Philippine President Ferdinand Marcos, Jr.. This visit comes on the heels of the Biden Administration’s decision to pause pending LNG export approvals to non-free trade countries after intense pressure from frontline communities. Many don’t realize that Japan is one of the largest financiers of U.S. LNG export projects and is working to derail clean energy transitions across Asia and globally. 

Japanese financing of LNG projects has a legacy of environmental and human harm, especially along the US Gulf Coast. Japanese private banks (MUFG, Mizuho, SMBC) are the top three financiers for LNG export terminals in the US, and the US is the largest exporter of LNG in the world. Though Biden’s LNG pause was a positive step, the continued exploitation of vulnerable communities for LNG projects is alarming. Japan is also one of the largest public financiers of gas projects in the Gulf and throughout the world, most recently approving billions in public finance for gas projects in Australia, Vietnam and Mexico. Protesters will call attention to Japan’s role in promoting dirty energy in the US and abroad, and urge Kishida and Biden to say #SayonaraFossilFuels 

WHAT: Pikachu Protest of Japan’s LNG projects during Japanese Prime Minister

Kishida’s visit to the White House. People will be in large inflatable Pikachu suits holding  a large cut out of Kishida’s face, and banners and signs that say “Japan Stop Poisoning US Communities” and “Sayonara Fossil Fuels.”

WHEN:  Wednesday, April 10th – 9:30 AM
WHERE: Lafayette Square, White House
WHO: The event is organized by Oil Change International, Friends of the Earth US, and Texas Campaign for the Environment

PHOTOS will be available HERE immediately following the event.

The post Media Advisory: Pikachu Protest Against Japanese LNG Expansion to Take Place During Prime Minister Kishida’s White House Visit appeared first on Oil Change International.

Handful of governments block clean energy transition with billions in international finance for fossil fuels

Tue, 04/09/2024 - 03:00

FOR IMMEDIATE RELEASE

Contact: 

Nicole Rodel, nicole@priceofoil.org  

Shaye Skiff, kskiff@foe.org

 

Handful of governments block clean energy transition with billions in international finance for fossil fuels 

New research shows Japan, Korea, and US among worst fossil fuel financiers

  • New report shows that between 2020 and 2022, G20 governments and the multilateral development banks (MDBs) provided $142 billion in international public finance for fossil fuels, almost 1.4 times their support for clean energy in the same period ($104 billion).  
  • The top fossil fuel financiers were Canada ($10.9 billion per year), Korea ($10 billion per year), and Japan ($6.9 billion per year). 
  • 71% ($101 billion) of the $142 billion in fossil fuel spending will end in the next few years if governments fully uphold recent commitments including through the Clean Energy Transition Partnership (CETP) and G7. Most signatories are already implementing these pledges, but the United States and Japan in particular are backsliding. 
  • Just 8% of all G20 and MDB international finance for energy went to low-income countries. Of that, almost three-quarters were for fossil fuels. While the finance delivered virtually no energy access for communities in need, this argument is frequently used to justify continued fossil fuel finance.

9 April 2024 – Despite the biggest increase in G20 and Multilateral Development Bank (MDB) international finance for clean energy in 2022, a report published today reveals a handful of bad actors are blocking a just transition to renewable energy with outsized financial support for fossil fuels. 

The new report, Public Enemies: Assessing MDB and G20 international finance institutions’ energy finance by Oil Change International and Friends of the Earth United States, and endorsed by 23 other civil society organizations [1], highlights an alarming trend in international energy finance. G20 and MDB international public finance for energy between 2020 and 2022 poured fuel on the fire by contributing a staggering $142 billion towards fossil fuels, while only $104 billion supported clean energy projects. The report has been released alongside updated energy finance data on energyfinance.org

To limit warming to 1.5°C in line with international climate agreements, 60% of already-developed fossil fuel reserves must stay in the ground. In light of these limits, the IEA has sent a clear message that there should not be any new oil and gas field or LNG investments – public or private – beyond what was already committed as of 2021. 

The findings reveal that between 2020 and 2022 the wealthiest G20 nations are the primary culprits behind continued investments in fossil fuels, with Canada, Korea, and Japan as the worst offenders. 

  • Canada: As of the end of 2022, Canada fulfilled their commitment to the Clean Energy Transition Partnership (CETP) to end international finance for fossil fuels, and is under pressure to meet a separate pledge to end their much larger domestic ECA fossil fuel finance in 2024. 
  • Japan: Despite being a signatory to the near identical G7 commitment to phase out international public finance for fossil fuels, Japan has yet to take steps to put commitments into action. Loopholes in Japan’s policy continue to enable fossil fuel financing, further exacerbating the climate crisis. 
  • Korea: Korea is the only major fossil financier that has yet to put in place any policies to end its oil and gas support. 

The report also highlights where there is momentum to shift public finance out of fossil fuels. It shows that coal exclusion policies have worked to nearly eliminate all international public finance for coal. Seven G20 countries are also signatories to the CETP, and pledged to end their international public finance for fossil fuels by the end of 2022 and prioritise support fully towards the clean energy transition. While many signatories have followed through on their commitment, a few CETP signatories are undermining this progress, including the United States, Italy, and Germany, by continuing to provide billions of dollars to fossil fuel projects well past the end of 2022 deadline. If countries honor their existing commitments to end not only coal finance but also oil and gas finance, including their CETP commitment to negotiate an oil and gas ban at the OECD, it will shift $33.5 billion annually out of fossil fuels. 

Claire O’Manique, Public Finance Analyst at Oil Change International, said: 

“While rich countries continue to drag their feet and claim they can’t afford to fund a globally just energy transition, countries like Canada, Korea, Japan, and the US appear to have no shortage of public funds for climate-wrecking fossil fuels. We must continue to hold wealthy countries accountable for their role in funding the climate crisis, and demand they move first and fastest on a fossil fuel phaseout, to stop funding fossil fuels, and that they pay their fair share of a globally just transition, loss and damage and adaptation finance.” 

Kate DeAngelis, Senior International Finance Program Manager at Friend of the Earth United States, said

“While international public finance could be a catalyst for the just energy transition, government leaders are failing to use it to deliver clean energy solutions where they are most needed. As this report highlights less than 10% of the G20 and major multilateral development bank financing is even reaching low-income countries where energy access needs are greatest. Even worse, a shocking three quarters of that finance is being channeled to climate-wrecking fossil fuel projects that deliver virtually no energy access to communities, and instead, lock in more pollution, climate-wrecking emissions, and devastation.”

Peter Bosip, executive director of the Centre for Environmental Law & Community Rights (CELCOR) said: 

“International public finance streamed into Papua New Guinea over a decade ago to fund a disastrous liquefied natural gas project. Despite the human rights abuses and environmental destruction, these same institutions are set to support a related gas project that is likely to have similarly deleterious effects. This report demonstrates that Papua New Guinea is not alone – international public finance is still providing billions every year for fossil fuels. It is time for public finance institutions to learn some lessons from past mistakes and refuse to support Papua LNG and other fossil fuel projects.”

Makiko Arima, Senior Finance Campaigner at Oil Change International said: 

“Japan is derailing the transition to renewable energy across Asia and globally. Despite its G7 commitment to end fossil fuel financing, its public financial institutions like the Japan Bank for International Cooperation (JBIC) continue to support new fossil fuel projects, including the Scarborough gas field in Australia and gas power plants in Mexico. JBIC is currently investigating a claim that it failed to follow its social and environmental safeguards in developing the Philippines’ first LNG import terminal in Batangas. Japan needs to put people and planet over profit, and shift its finances from fossil fuels to renewables.”

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Regional press releases on this report are available for the United States, Canada, Japan, Korea, and Italy.

Notes:

[1] You can download the report here

This report is an update to the November 2022 Report, At A Crossroads: Assessing G20 and MDB International Energy Finance Ahead of Stop Funding Fossils Pledge Deadline, which looked at G20 country and MDB traceable international public finance for fossil fuels from 2019-2021 and found they are still backing at least USD 55 billion per year in oil, gas, and coal projects.

  • The Clean Energy Transition Partnership (CETP) was launched at the 2021 UN COP26 climate conference in Glasgow. The 41 signatories (full list here) aim to “end new direct public support for the international unabated fossil fuel energy sector by the end of 2022” and instead “prioritise our support fully towards the clean energy transition.” 
  • This implementation tracker outlines country-level progress on the CETP, and is  updated on a regular basis.
  • This fossil fuel finance violations tracker outlines the laggard countries who have broken their commitment to the CETP, namely the U.S., Italy, and Germany, and continued to finance fossil fuel projects with public money in 2023
  • The IPCC’s AR6 report highlights public finance for fossil fuels as ‘severely misaligned’ with reaching the Paris goals, but that if shifted, it could play a critical role in closing the mitigation finance gap, enabling emission reductions and a just transition. More background on the role international public finance plays in shaping energy systems is available in this Oil Change International briefing.
  • A legal opinion by Professor Jorge E Viñuales from the University of Cambridge and Barrister Kate Cook of Matrix Chambers argues that governments and public finance institutions that continue to finance fossil fuel infrastructure are potentially at risk of climate litigation.

The post Handful of governments block clean energy transition with billions in international finance for fossil fuels appeared first on Oil Change International.

Public Enemies: Assessing MDB and G20 international finance institutions’ energy finance

Mon, 04/08/2024 - 23:00
DOWNLOAD THE REPORT

Published by Oil Change International & Friends of the Earth U.S.

April 2024

Download the report. 

Read the press release.

This new report, “Public Enemies: Assessing MDB and G20 international finance institutions’ energy finance” looks at G20 country and MDB traceable international public finance for fossil fuels from 2020-2022 and finds they are still backing at least USD 47 billion per year in oil, gas, and coal projects.

The findings reveal that the wealthiest G20 nations are the primary culprits behind continued investments in fossil fuels, with Canada, Korea, and Japan emerging as the worst offenders. The report also highlights where there has been momentum to end international public finance for fossil fuels, finding that if countries keep their existing commitments to end not only coal finance but also oil and gas finance, it would shift $26 billion annually out of fossil fuels by the end of 2024.

The report analyzes finance from OCI’s open-access database, Public Finance for Energy Database (energyfinance.org), which has been updated alongside the release of this report. It tracks financial flows to fossil fuels and clean energy from G20 bilateral development finance institutions (DFIs), export credit agencies (ECAs), and the multilateral development banks (MDBs). 

Download the report.

SUMMARY

Our analysis shows that:

Significant continued fossil fuel support by a handful of countries is blocking a globally just and equitable transition to clean energy.

  • Fossil fuels received at least $47 billion annually between 2020 and 2022. 
  • The vast majority of fossil fuel finance is flowing to gas – 54% of known international public finance for fossil fuels flowed to fossil gas, and a further 32% to mixed oil and gas projects between 2020 and 2022. This matches our analysis of these institutions’ fossil fuel exclusion policies, where they exist, which have loopholes that allow for ongoing fossil gas support. 
  • The largest share (46%) of G20 and MDB fossil finance between 2020 and 2022 supported midstream transportation and processing projects. This includes finance for projects like the Trans Mountain pipeline in Canada, Mozambique LNG, and Korean built LNG carriers. These are some of the most expensive types of projects in the oil and gas supply chain. 
  • ECAs were the worst international public finance actors, accounting for 65% of all known fossil fuel activity between 2020 and 2022. 
  • The World Bank Group (WBG) provided the most direct finance for fossil fuels of any MDB at $1.2 billion a year on average. At least 68% of this was for fossil gas. 

A small group of worst actors hold an outsized responsibility, while others are working together to shift finance from fossil fuels to clean energy.

  • The top three fossil fuel financiers between 2020 and 2022 were: Canada ($10.9 Billion), Korea ($10 Billion), Japan ($6.9 Billion).
    • At the end of 2022 Canada followed through on their commitment to end their international public finance, and is under pressure to meet a separate pledge to end their much larger domestic ECA fossil fuel finance in 2024. 
    • Korea has yet to make any commitments to end their international public finance for fossil fuels.
    • While Japan is part of a G7 Commitment to end their international public finance for fossil fuels, their current policy includes three circumstances where they can continue financing fossil fuel projects. These have served as loopholes for Japan to continue its fossil fuel financing.
  • Coal exclusion policies have worked to nearly eliminate international public finance for coal. Support for coal dropped from an annual average of $10 billion from 2017 to 2019 to $2 billion a year from 2020 to 2022. This decrease can be attributed to coal exclusion policies that came into effect in 2021, including China’s coal power policy and the Organisation for Economic Cooperation and Development (OECD) ECA Coal Agreement. Now these institutions must do the same and follow through on commitments to end their oil and gas finance.
  • There is momentum to shift international direct finance out of fossil fuels. If countries and institutions honor existing commitments, 55% of this fossil fuel support will end by the end of 2024. 
    • Eight out of the sixteen signatories to the Clean Energy Transition Partnership with significant amounts of international energy finance have put in place policies that end their international fossil fuel support. 
  • However, a few laggards are undermining this progress. 
    • The U.S. is the single biggest violator of the CETP pledge, approving the most fossil fuel projects of any signatory for a total of almost $2.3 billion.
    • Italy and Germany have released policies that fall short of the commitment and have big loopholes that are allowing ongoing fossil gas support.
  • The international public finance institutions of Global North countries invested 58 times more in climate wrecking fossil fuel projects each year 2020-2022 than in the loss and damage fund created at COP28.

Clean energy finance is still too low, and not flowing to the countries that need it most. 

  • Clean energy received almost $34 billion annually between 2020 and 2022. This is the highest annual average for clean finance since our dataset began in 2013, but is far below the estimates of the quantity and quality of public clean energy finance required to limit warming to 1.5°C.
  • The top clean energy financiers between 2020 and 2022 were: France ($2.7 billion), Japan ($2.3 billion), and Germany ($2.3 billion).
  • The majority of clean energy finance is also not going where it is most needed, flowing overwhelmingly to wealthy countries. Just 3% of all clean energy finance between 2020 and 2022 went to low-income countries. Only 18% flowed to lower-middle-income countries.

We urgently need public finance institutions’ policies, priorities, and governance to push towards a globally just energy transition. As part of doing their fair share to limit warming to 1.5°C and ensure a livable future, G20 governments and the MDBs they control must:

  • Implement whole-of-government policies (or whole-of-institution policies in the case of MDBs) to immediately end new public direct and indirect finance for oil, gas, and coal projects. These policies must not include loopholes for technologies including carbon capture and storage (CCS), fossil-based hydrogen, ammonia co-firing, fossil gas, and other dangerous distractions.
  • Dramatically scale up clean energy finance on fair terms, especially for transformative energy democracy and environmental justice priorities where need is greatest. This finance must be delivered on debt sustainable terms, and implemented with safeguards and standards to ensure all projects (a) uphold and protect human rights, including free, prior and informed consent; (b) are implemented with democratic and participatory processes; and (c) ensure the sustainable use of land, water and ecosystems.
  • Reform their public reporting to ensure it is transparent and timely.
  • Provide their fair share of debt cancellation, climate finance and loss and damage support to countries in the Global South.
  • Work towards fair multilateral monetary, trade, tax, debt, and financial regulation rules that are aligned with a safe 1.5°C climate pathway.

Read the full report. 

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CERAWeek “certified gas” event – unproven technology, opaque practices, and conflicts of interest

Mon, 03/18/2024 - 09:12

For Immediate Release
March 18, 2024
Collin Rees, collin@priceofoil.org
Gabrielle Levy, glevy01@gmail.com
Josh Eisenfeld, jeisenfeld@earthworksaction.org
Caleb Heeringa, caleb@gasleaks.org

Spokespeople from Earthworks, Oil Change International, Gas Leaks, and Climate Nexus will be available throughout the week for comment

Houston – As CERAWeek – the fossil fuel industry’s largest annual conference of the year – kicks off today, industry insiders will be out in force to continue peddling greenwashing schemes that claim “certified” gas is “cleaner” and less harmful to the climate.

On Tuesday, William Jordan, executive vice president of EQT, the largest gas producer in the United States, will share a stage at CERAWeek with Georges Tijibosch, CEO of gas certifier MiQ. EQT, which operates in Pennsylvania, Ohio, Kentucky, and West Virginia has previously claimed more than half of its gas is certified by MiQ and other standards, making it one of the largest producers of gas that carries a certification label. 

Climate and social movements have forced oil and gas companies to acknowledge that fossil fuels are dirty and dangerous. Now, oil & gas corporations and the governments who support them are turning to schemes such as gas certification to appear as though they are taking serious action on climate, while in practice doing almost nothing to actually reduce the harm they do to the climate and the communities in which they operate.

“The oil and gas industry wants the public to believe that the ‘natural’ gas system is clean and getting cleaner, despite growing evidence that it releases far more planet-warming methane pollution than official estimates,” said Caleb Heeringa, Program Director for the Gas Leaks Project. “Just like ‘clean coal’ before it, certified gas is a marketing gimmick aimed at expanding our dependence on a dirty fossil fuel.”

Gas certification schemes allow producers to falsely claim their operations remain under a certain threshold limit of methane emissions intensity, using a variety of methods and standards that frequently add up to giving extra credit to companies for simply following the law. Certification schemes rely on technology that is frequently unreliable, resulting in reported data that is easily manipulated or cherry-picked, and with minimum transparency to allow for accountability. Yet despite these severe flaws, companies seek to charge a premium for a certification label, the costs of which they are already passing along to consumers.

“We have spent nearly 3 years studying certification schemes both in the field and by talking to current and former employees of the biggest players in the industry. We have shown that the monitoring technology and its implementation in the field are not reliable but often certifiers don’t require any measurement at all. It’s more words with little action and the bottom line is this: there is currently no way for any certifier to guarantee lower emissions from their process,” said Josh Eisenfeld, Campaign Manager of Corporate Accountability at Earthworks.

EQT’s claims of being a responsible purveyor of “clean” gas don’t hold up to scrutiny. This week, it was announced that EQT was buying back Equitrans Midstream Corp (having spun off the unit under investor pressure in 2018) and will again become an owner of the controversial, unfinished Mountain Valley Pipeline, which has famously been delayed by hundreds of environmental and safety violations. Meanwhile, Equitrans is still cleaning up almost 18 months after one of the worst gas leaks in U.S. history blew out a compressor station in southwest Pennsylvania. 

“The Mountain Valley Pipeline was proposed nearly 10 years ago, yet it’s barely half-way built due to its owners’ recklessness and the lack of need,” said Denali Nalamalapu, co-director of POWHR, a grassroots group fighting the MVP. “The fossil fuel industry is floundering; it sacrifices our communities to make some more money, before running away and leaving us at risk of explosions, leaks, further endangered ecosystems, and local impacts of the climate crisis. What our communities need is investments in renewable energy and community-led solutions.”

The Biden administration has continued to roll out the welcome mat for unsound certification programs and the industries that seek to use them as justification to continue expanding oil and gas production, despite overwhelming scientific consensus that fossil fuels must be rapidly phased out. On Thursday, the administration provided a stakeholder update on the international working group to develop an international measurement, monitoring, reporting and verification (MMRV) framework. As currently envisioned, the voluntary framework would make no requirements of oil and gas companies to reduce their total emissions from the oil and gas they sell, nor reduce overall production of oil and gas. Instead, the framework will kick open the door to increased production by allowing companies to claim they are marketing a cleaner alternative while relying on unreliable, easily manipulated, and opaque technologies. 

“CERAWeek will be chock full of oil and gas executives claiming a role for fossil gas in a decarbonizing world,” said Lorne Stockman, Research Director, Oil Change International. “Many will claim their gas has been certified as clean. But our research shows that certified gas is a scam mired in unproven technology, opaque practices, and conflicts of interest. The most recent data clearly shows that the oil and gas industry is failing to rein in its pollution while drastically underreporting its methane problem. We don’t need certified gas or any other half-baked scheme for maintaining the status quo. The best way to reduce methane pollution is to phase out the oil and gas industry.”

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Greenwashing at CERAWeek2024 is meaningless without ambitious action to end fossil fuels

Mon, 03/18/2024 - 08:25

Oil Change International, Earthworks, and Texas Campaign for the Environment experts will be available for comment throughout the week.

For Immediate Release
15 March 2024
Allie Rosenbluth allie@priceofoil.org +1 703-298-3639
Bekah Staub rstaub@earthworksaction.org +1 720-988-5779

Houston – Climate and social movements have forced oil and gas companies to acknowledge that fossil fuels are dirty and dangerous. At the industry’s biggest event of the year – CERAWeek 2024 – Big Oil and their government enablers will try to fool the world into believing they have solutions for a livable planet when, in reality, they’re trying to suck every last ounce of profit out of their dirty business.

Expect sales pitches for smoke and mirrors like “carbon capture”, “blue hydrogen”, “certified natural gas”, and “ammonia co-firing”. These scams destroy the renewable energy transition we rightfully deserve by delaying or replacing better alternatives, harm community health, and keep the world on a track toward climate chaos.

Grassroots groups from impacted communities will be in Houston to say loud and clear: it’s time for governments and decision makers to stop listening to fossil fuel industry schemes and take action in the best interest of people and the planet.

Dominic Chacon, Spokesperson, Texas Campaign for the Environment, said:
“Houston has been at the forefront of the harmful impacts of the fossil fuel industries for generations, including the degradation of coastal ecosystems, air & water quality, and most importantly the social and economic fabric of communities throughout Harris County. CERAWeek provides a pedestal for government decision-makers, Big Oil CEOs, and financiers to push dangerous projects like the High-Velocity Hydrogen Hub, carbon capture, and chemical recycling on the Houston region without any community involvement whatsoever. We are organizing to build the world we deserve and put a stop to these profiteers treating our communities as sacrifice zones.”

Kelly Trout, Research Director, Oil Change International, said:
All the major oil companies’ current climate plans are insufficient compared to the rapid, deep cuts in oil and gas needed within this decade. Greenwashed commitments – whether to reach ‘net zero’, to ‘capture carbon’, or to ‘certify’ fossil fuels as ‘cleaner’ – are meaningless without aggressive, immediate action to end fossil fuels. For the climate and the health of our communities, governments must reign in the fossil fuel industry and guide the world to a full, fast, fair, and funded fossil fuel phaseout.”

Josh Eisenfeld, Campaign Manager of Corporate Accountability, Earthworks, said:
“For years we’ve demanded action, not empty words, from Big Oil. If you look at their actions, it’s clear that not only are they not committed to reducing emissions, they’ve actually come to CERAWeek to continue promoting fossil fuel production and extraction and delaying the transition to a just, clean energy future.”

Lorne Stockman, Research Director, Oil Change International, said:
“CERAWeek will be chock full of oil and gas executives claiming a role for fossil gas in a decarbonizing world. Many will claim their gas has been certified as clean. But our research shows that certified gas is a scam mired in unproven technology, opaque practices, and conflicts of interest. The most recent data clearly shows that the oil and gas industry is failing to rein in its pollution while drastically underreporting its methane problem. We don’t need certified gas or any other half-baked scheme for maintaining the status quo. The best way to reduce methane pollution is to phase out the oil and gas industry.”

Frode Pleym, Head of Greenpeace Norway, said:
“Equinor portrays themselves as a diversified energy company, but that is far from the truth. With as little as 0.15 percent of their energy production derived from renewables, and an unabashed intention to ramp up fossil fuel extraction worldwide, they clearly have no intention of aligning their business with the Paris agreement. Equinor does not care about climate science, they only care about the short-term profits of their shareholders and continue to prioritize short-term profits over people.”

Philip Evans, Campaigner at Greenpeace UK, said:
“With a fresh $10 million pay packet burning a hole in his pocket, new BP CEO Murray Achincloss will no doubt be buying a round for his industry buddies at CeraWeek this year. But while oil tycoons gather in Houston to toast another year of eye-watering profits, rural families are struggling to cope as unprecedented wildfires rage across millions of acres of Texan countryside.

“People are sick of watching oil giants rake in billions from climate-wrecking fossil fuels while those who have done little to cause climate change are forced to pick up the tab. We need to see bold global leadership to force BP and the fossil fuel industry as a whole to stop drilling new fossil fuels and to make their vast resources available both for the coming transition to low carbon energy and to repair the damage the industry has already caused around the world.”

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Shell vs. the Climate: Expanding Oil and Gas, Fueling the Climate Crisis

Sun, 03/17/2024 - 16:00

Oil Change International & Milieudefensie

March 2024

Download the briefing

Recognizing that Shell’s business activities have been a relevant cause of the climate damage that is putting people’s lives at risk, the Dutch district court of The Hague handed down a verdict on May 26, 2021 requiring Shell to take responsibility for its ongoing climate pollution and align its business plans with the goals of the Paris Agreement on climate change.

The climate case verdict, which Shell is appealing, requires the company to reduce the net carbon-dioxide (CO2) emissions caused by its business activities, including the oil and gas it sells to customers, by 45% below 2019 levels by 2030.

In this briefing, we provide an updated assessment of Shell’s fossil fuel extraction plans in light of both the court verdict and the latest climate science, building on a September 2022 data briefing released by OCI and Milieudefensie.

Our analysis shows that Shell continues to plan for levels of oil and gas production and investment that undermine the world’s chances of curtailing climate disaster and are incompatible with holding global temperature rise to 1.5 degrees Celsius (°C).

Specifically, we find that:

  • Shell has approved development of at least 20 new extraction assets since the Dutch court verdict of May 2021. Together, these projects commit more than 2.1 billion barrels of new oil and gas equivalent (BOE) to extraction, threatening 753 million tonnes (Mt) of CO2 pollution cumulatively. That is more than 5 times the CO2 emissions of the Netherlands in 2021.
  • Rather than writing off undeveloped oil and gas as unextractable under the 1.5°C warming limit, Shell is actively seeking more of it. According to data from Rystad Energy, close to 60% (813) of 1,386 oil and gas extraction assets owned in whole or part by Shell are undeveloped. The projected volume of undeveloped oil and gas in Shell’s portfolio (14.7 billion barrels) has grown by 24% since our 2022 briefing.
  • By ceasing approval of new oil and gas fields as of 2024, Shell could help keep 14.7 billion BOE of undeveloped oil and gas in the ground and 5.3 billion tonnes (Gt) of CO2 emissions out of the atmosphere. That is equivalent to 38 times the CO2 emissions of the Netherlands in 2021. An additional 6.7 Gt of CO2 emissions are already committed by Shell’s producing and under construction projects.
  • If Shell were to extract all its economically viable oil and gas resources (developed and undeveloped) the resulting CO2 pollution (11.9 Gt CO2) could exhaust as much as 5.7% of the world’s remaining carbon budget for a 50% chance of holding warming to 1.5°C. This is before accounting for the additional carbon emissions caused by the oil and gas Shell sells but does not directly produce.
  • In the summer of 2023, Shell dismissed its target to reduce oil production by 1-2% annually, announcing plans to keep oil production steady through 2030. If Shell continues approving new fields for development, Rystad Energy modelling indicates that Shell’s oil and gas production and the CO2 emissions caused by burning it could increase by 10% between 2022 and 2030. In that case, CO2 emissions from Shell’s oil and gas production could rise at a higher rate between 2022 and 2030 than global oil and gas emissions under the International Energy Agency’s Stated Energy Policies Scenario (STEPS) – a scenario aligned with a disastrous 2.4°C of global temperature rise.
  • By contrast, Shell could go a long way towards aligning its oil and gas production with the climate case verdict and the 1.5°C limit by ceasing to develop new extraction. If Shell were to stop approving new projects and cease construction of projects not yet producing as of 1 January 2024, the decline in production from already operating fields would lead to a 41% drop in CO2 emissions from burning oil and gas extracted by Shell by 2030, relative to 2019 levels. This would still be lower than the 45% overall reduction mandated for Shell’s total CO2 emissions by the climate case verdict, but it would be a significant step in that direction.

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New Report Exposes Shell’s Oil and Gas Expansion Despite Court Rulings

Sun, 03/17/2024 - 16:00

For Immediate Release
18 March, 2024

New Report Exposes Shell’s Oil and Gas Expansion Despite Court Rulings
Milieudefensie and Oil Change International expose Shell plans on eve of Shell’s court appeal

Amsterdam – As Shell prepares to appeal a court order to reduce emissions by 45%, a new report from Milieudefensie and Oil Change International reveals the company has flagrantly continued to expand oil and gas projects since the 2021 court ruling, defying orders to align its plans with what is required to curb the climate crisis [1].

Since the 2021 Netherlands court ruling in the climate case against Shell, the company made the final decision to approve construction of 20 major oil and gas projects, including 6 in 2023 alone. Meanwhile, investments in Shell’s renewable branch have declined. The finding comes from new data analysis on Shell’s production and investment plans, which Shell itself does not publish at a comparably detailed level.

Nine de Pater, Campaigner with Milieudefensie, said:
“With these plans, Shell shows that it shamelessly prefers profit over everything else, continues to cause dangerous climate change, and endangers human lives. In Brazil, where the company wants to develop gigantic oil fields, the destructive effects on the climate, economy, and local communities will be felt for decades to come.”

Kelly Trout, Research Director, Oil Change International, said:
“All new projects Shell has planned are in violation of the Paris Agreement, and each one is an investment in more climate destruction. Shell is a textbook example of a fossil fuel company investing billions in new oil and gas, while working against meaningful climate policies and delaying the transition to renewable energy.”

Key findings: Shell wants to extract oil and gas far beyond planetary limits

Earlier research by OCI and Milieudefensie in 2022 demonstrated that Shell should stop all new oil and gas fields to comply with the court ruling [2]. But the opposite happened. Shell has taken steps back in its climate ambitions, ramped up development of new oil and gas, and wants to continue extracting oil and gas at levels consistent with climate breakdown. Shell is doubling down towards the destruction of a livable planet:

Since the court ruling in the climate case against Shell:

  • Shell has taken the final decision to approve construction of 20 major projects, including 6 new ones in 2023.
    • Projects are planned in Brazil, Australia, and Qatar, each with huge carbon dioxide emissions.
  • Shell has over 800 oil and gas fields in the pipeline to be developed.
    • These threaten to cause 5.3 billion tons of additional CO2 emissions; 38 times the emissions of the entire Netherlands in 2021.
  • If Shell continues approving and constructing new extraction projects, its oil and gas production could increase to 2030, a pathway aligned with climate disaster

Every decision counts

Every decision by Shell to invest in new fossil fuel extraction and infrastructure brings the world closer to crossing the 1.5°C global warming mark and potentially irreversible climate devastation. The analysis shows that Shell plans to invest more than 37 billion euros in new oil and gas in the coming years. Within the 1.5°C warming scenario, there is no room left for any new oil and gas projects, and the existing fields are already taking the warming past this limit.

All new projects Shell has planned are in violation of the Paris Agreement. Any expansion of oil and gas goes against the court order for Shell to reduce its carbon dioxide emissions by 45% by 2030.

The will of governments and businesses is lacking

What stands in the way of a rapid transition away from fossil fuels is the will of governments and companies like Shell to put the well-being of people and planet above short-term politics and fossil fuel profits.

Nine de Pater, Campaigner with Milieudefensie, said:
“We simply cannot allow large polluting companies, who make billions in profits at the expense of people and planet, to cause the climate crisis to spiral even further out of control. We cannot wait any longer. That is why we are standing up to Shell and ING and once again going to the shareholders’ meeting of 27 other big polluters.”

About the study
This report was written by Oil Change International and Milieudefensie. The analyses were made based on January/February 2024 data from Rystad Energy. The report deals only with emissions from the use of Shell’s extracted oil and gas, which is less than half of the company’s total Scope 3 emissions. The vast majority of end use emissions Shell is responsible for (64% of Scope 3 emissions from sold products), come from products that the company purchases and then sells. That part of Shell activities is not part of the analysis.

Notes
[1] In 2021, a court in the Hague ordered Royal Dutch Shell to cut its global carbon emissions by 45% by the end of 2030 compared with 2019 levels, in a landmark case brought by Friends of the Earth and over 17,000 co-plaintiffs. The oil giant’s sustainability policy was found to be insufficiently “concrete” by the Dutch court. Judge Larisa Alwin said Shell must “at once” reduce its CO2 output. The appeal from Shell is due April 2, 3, 4 and 12, 2024 at the Court of Appeal in The Hague.

[2] Read the results of our 2022 survey here

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For interviews please contact:

Jelt Roos, jelt.roos@milieudefensie.nl, +316 15565067
Al Johnson-Kurts, al@priceofoil.org, +1 (802) 595-9593

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US Export-Import Bank Approves Staggering $500 million for Bahrain oil and gas drilling project

Thu, 03/14/2024 - 12:49

Another blow to Biden’s climate commitment

[Washington, DC] Today the board of the US Export-Import Bank (EXIM) approved $500 million to expand oil and gas production in Bahrain, despite Biden’s commitment to end international public finance for fossil fuels made in 2021. 

Today’s board approval is the fifth major project the bank has backed since Biden’s commitment at the 2021 UN Climate Conference in Glasgow with the Clean Energy Transition Partnership (CETP). This brings EXIM’s total international fossil fuel financial support to $1.3 billion since the deadline passed at the end of 2022 for the Biden administration to follow through on the commitment.

At least 60% of EXIM’s current $40+ billion portfolio directly supports fossil fuel-producing or dependent sectors like oil, gas, and aviation, with only 0.2% for renewable energy.

Nina Pušic, Export Finance Climate Strategist, at Oil Change International, said:
“EXIM’s decision to approve the Bahrain oil and gas project is another alarming step in the wrong direction for climate action, as the bank goes rogue and continues to defy President Biden’s promises. Coming in at $500 million dollars, the Bahrain project is a huge climate bomb paid for by the American taxpayer. This approval signals another setback for Biden’s climate commitments, and cements the United States yet again as the worst of the laggard countries in violation of the promise to end international public finance for fossil fuels. 

“As many other countries are leading in implementing their commitment and already shifting at least $6 billion per year away from fossil fuels, Biden and the United States are approving projects that exacerbate our climate crisis and threaten communities. The U.S. must instead help lead a shift of billions of dollars from last century’s dirty energy into the clean, renewable energy of the future, but approvals like Bahrain are a huge step backward.”

Noa Greene-Houvras, 17, an organizer with Fridays For Future NYC, said: 
“We are horrified at the decision to send $500 million to new oil projects in Bahrain. The United States has lost any credibility it had as a climate leader, and instead has proven to be led by forces like EXIM to prop up a dying industry while simultaneously killing its own people. As youth we are watching our future slip away, engulfed by fire and flood. To not only stand by during a climate emergency but to further it is a catastrophe choice. We are both terrified and baffled at this decision making process, and we will not let this stand.”

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Investigating the countries and companies behind Israeli crude oil and fuel supply chains

Thu, 03/14/2024 - 02:45
DOWNLOAD THE DATA ANALYSIS

Data compiled by Data Desk, commissioned by Oil Change International

March 2024

Download the data analysis.

In February 2024, Oil Change International commissioned Data Desk to provide an overview of the supply chains that are currently bringing crude oil and refined products to Israel, focusing on fuel supplies to the country’s armed forces. 

The research comes in the context of Israel’s 2023 invasion of the Gaza Strip and in the wake of a 2024 ruling by the International Court of Justice that Israel’s actions may have violated the terms of the Genocide Convention.

The primary aim of the analysis was to determine:

  • Which are the main countries supplying fuel to Israel?
  • What are the major international oil and gas companies supplying fuel to Israel and the Israeli military?

The data was last updated March 8, 2024.

Click here to download the data analysis.

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New Research Exposes Countries and Companies Supplying the Oil Fueling Palestinian Genocide

Thu, 03/14/2024 - 02:45

Contact:
fuel-research@priceofoil.org

FOR IMMEDIATE RELEASE

[Washington, DC] – New data compiled by DataDesk, commissioned by Oil Change International, sheds light on the devastating role of oil fueling the ongoing genocide against the Palestinian people. By tracing the supply chains of crude oil and refined products to Israel, the research exposes the various countries and companies whose fuel supplies are perpetuating this humanitarian crisis – and thus have an opportunity to help compel a ceasefire by turning off those taps.

According to the findings, the US is the Israeli military’s key direct source of imported jet fuel. Oil majors, including BP, Chevron, ExxonMobil, Shell, Eni, and TotalEnergies, are also complicit in fueling atrocities in their ownership stakes in and operations of projects supplying oil to Israel, particularly via Azerbaijan and Kazakhstan. Brazil and Saudi Arabia are also implicated in supplying Israel with fuel for its war machine. Countries and companies continuing to provide fuel to Israel are playing a part in enabling the ongoing violence and oppression against the Palestinian people.

Key findings:

    • Israel has received three tankers of JP8 Jet Fuel since the war started as part of U.S. military aid for Israel. JP8 Jet Fuel is specifically formulated for military jets. One shipment left the United States before the war started, while two have been sent since. The latest tanker was seen docked at Israel’s Ashkelon terminal on March 6.
    • Israel receives relatively small but regular shipments of crude via the Sumed pipeline. The pipeline receives crude oil from Saudi Arabia, the United Arab Emirates (UAE), Iraq, and from Egypt, through which the pipeline also travels. All of these countries have condemned Israel’s actions in Gaza.
    • Other countries with more friendly relations with Israel supply the majority of crude oil delivered since the war began, including Azerbaijan and Kazakhstan. Gabon is also a major source of crude oil delivered. Crude from Azerbaijan and Kazakhstan is supplied by pipelines owned or operated by major international oil companies, including BP, Chevron, Exxon, Shell, and Eni.
    • Russia continues to supply a steady stream of vacuum gas oil (VGO) for one of the key refineries in Haifa. VGO is generally upgraded into gasoline and diesel.
    • Two shipments of Brazilian crude oil totaling 260,000 tons have been delivered to Israel since December 2023. This crude was supplied from offshore fields co-owned by Shell and TotalEnergies together with Brazil’s Petrobras.

Palestinian groups and their allies have called for an energy embargo and are demanding governments and companies cease all fuel shipments to Israel until it ends the genocide and its regime of apartheid against the Palestinian people. Specifically, the Boycott, Divestment, and Sanctions movement calls for a consumer boycott of Chevron-branded gas stations. Countries, as well as oil and gas companies, must be held to account for their role in perpetuating violence and human rights abuses.

Statements:

Allie Rosenbluth, Oil Change International US Program Manager, said:
“Countries and major oil companies fueling Israel’s war machine are complicit in the ongoing genocide of the Palestinian people. With growing public outrage, including massive protests across the globe, the demand for an end to this genocide is resounding. By directly fueling Israel’s military, on top of over a hundred other weapons sales, the U.S. in particular must be held accountable for potential violations of international law. We call on nations to leverage their oil supply as a means to demand an immediate ceasefire and an end to the occupation. Fossil fuel companies, like BP, Chevron, and Exxon, driven solely by profit, are willing to fuel conflict against innocent civilians. This must stop today. We demand a permanent ceasefire and an end to Israeli occupation in Palestine.”

Mahmoud Nawajaa, General Coordinator, Palestinian BDS National Committee (BNC), said:
“The ICJ’s ruling of 26 January indicates that Israel could plausibly be committing genocide against 2.3 million Palestinians in occupied Gaza. States and companies must immediately end any complicity in Israel’s genocidal acts, including its use of starvation as a weapon of war. UN human rights experts have reminded States of this obligation, calling for an “immediate” military embargo on Israel, entailing a halt to the transfer of weapons and other military supplies to it.

“States and companies that continue to provide Israel with fuel for its military forces are directly complicit in supporting its ongoing genocide. We shall never forgive them for that. The BDS movement, which is already targeting Chevron with a growing global boycott and divestment campaign, will expose and target the complic States and corporations mentioned in this valuable report.

“This complicity in Israel’s Gaza genocide is not just killing Palestinians and destroying our cities, refugee camps and villages; it is also accelerating the world’s descent into what the UN Secretary-General calls, “total impunity,” where the law of the jungle reigns.”

Mohammed Usrof, co-founder of Climate Alliance for Palestine, said:
“After the International Court of Justice ruling, it’s disheartening to see the silent complicity of international corporations in the prolonged suffering of my people and my family. These companies, by supplying oil and gas to Israel, not only fuel a machinery of conflict but also ignore the urgent calls for ethical responsibility and humanity. It’s high time we demand more than just corporate profit – accountability and justice should be non-negotiable.”

Peter Frankental, Amnesty International UK’s Economic Affairs Director, said:
“There are urgent due diligence questions for any company with commercial ties to the Israeli military, and oil firms must ensure they’re not in the business of helping to entrench Israel’s apartheid system or fuelling war crimes and possible genocide in Gaza.

“The need to avoid being directly linked to Israeli war crimes via any of their business relationships extends to all companies which form part of the global oil distribution infrastructure. We’ve repeatedly called on the Government to ensure that no UK company can trade with Israel’s network of illegal settlements, and likewise the Department for Business & Trade must be prepared to take action to prevent unscrupulous UK firms – including in the lucrative oil sector – from profiting from Israeli war crimes and crimes against humanity in Gaza.”

Omar Shakir, Israel and Palestine Director at Human Rights Watch said:
“Israeli authorities have carried out mass atrocities in Gaza in recent months. Countries and other actors that provide support to Israel’s armed forces risk complicity in war crimes. States should suspend military assistance and arms sales to Israel so long as its forces commit widespread, systematic abuses against Palestinian civilians with impunity.”

Notes to the editor:

For more information and to access the full data analysis, please visit here.

Data Sets used: The main sources used are: Automatic Identification System (AIS) data on ship positions and aggregated commodity trade flows data from LSEG’s CARGO app; customs filings and bills of lading from Sinoimex Global Trade Monitor; and satellite imagery from Planet Labs and the ESA Sentinel-2 satellite. While detailed examples and evidence are provided only for the most significant flows in volume terms, we would be very happy to discuss any of the other flows mentioned in more detail.

ENDS

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Troubled Waters: How North Sea Countries Are Fueling Climate Disaster

Tue, 03/12/2024 - 01:00
DOWNLOAD THE FULL REPORT

Published by Oil Change International

March 2024

Download the full report.

For the first time ever, a new report has developed a set of benchmarks for rating North Sea countries’ oil and gas production policies by their level of alignment with the Paris Agreement. By assessing the oil and gas policies of all North Sea countries (Norway, the UK, the Netherlands, Germany, and Denmark), we reveal that none are aligned with the Paris Agreement, nor are contributing their fair share towards the global transition off of fossil fuels.

The report, titled, Troubled Waters: How North Sea Countries are Fueling Climate Disaster, also reveals that if the five North Sea producers were counted as a single country, they would rank as the seventh-largest oil and gas producer in the world, just behind China. Far from being on track to phase out production in the 2030s, the region could still be extracting significant levels of oil and gas in 2050, particularly in the UK and Norway.

Key Findings:

  • None of the five North Sea countries are on track to meet the 1.5-degree warming limit set by the Paris Agreement or the COP28 decision to transition away from fossil fuels.
  • North Sea governments’ continued approval of new oil and gas extraction and exploration could lead to over 10 billion tonnes (Gt) of new carbon pollution, posing a significant threat to a livable climate.
  • Urgent action is required from North Sea Governments to phase out oil and gas production by early 2030s and transition to renewable economies. The lagging oil and gas policies of Norway and the UK have the biggest potential impact on total global emissions.
  • Without an urgent change in policy, Norway and the UK are on track to rank amongst the world’s top 20 developers of new oil and gas fields through 2050.

We recommend that all five North Sea countries align all policies with a 1.5°c scenario. Of the 11 benchmark categories we present, we most urgently recommend these governments to stop approving new development, establish and implement a Paris-aligned date to end oil and gas production, and adopt and implement just transition policies, in the next two to three years.

Click here to download the full report.

Download the full report.

The post Troubled Waters: How North Sea Countries Are Fueling Climate Disaster appeared first on Oil Change International.

New Report Reveals North Sea Countries’ Oil and Gas Plans Breach Paris Agreement

Tue, 03/12/2024 - 01:00

For Immediate Release

Contact: Valentina Stackl, Oil Change International, valentina@priceofoil.org

[London, England/Oslo, Norway] A comprehensive report released today by Oil Change International exposes the failure of the five major North Sea oil and gas producing countries – Norway, UK, Denmark, the Netherlands, and Germany – in terms of aligning its oil and gas policies with the Paris Agreement, posing a grave threat to global efforts to combat the climate crisis.

Despite being signatories to the Paris Agreement and recent COP28 decisions advocating for a transition away from fossil fuels, not a single North Sea country is on track to phase out their oil and gas extraction to meet the crucial 1.5-degree warming limit. The report, titled Troubled Waters: How North Sea Countries Are Fueling Climate Disaster, highlights that if treated as a single entity, North Sea producers would rank as the seventh largest oil and gas producer globally, just behind China, with devastating implications for our climate. This is the first ever benchmarking for North Sea countries’ oil and gas production policies by their level of alignment with the Paris Agreement.

These North Sea countries have a choice: either, they lead the world in a fast and fair phase out of oil and gas and fully fund a transition to renewable economies where everyone can thrive, or they will be left behind and seen as hypocrites. Investments in oil and gas infrastructure today have decades of repercussions, locking us into a dangerous high-carbon future. These North Sea countries rank among the oil- and gas-producing countries with the most historic responsibility and the greatest means to invest in a just transition. It is beyond time for North Sea countries to show the real climate leadership that they have both a responsibility and ability to enact.

Key findings:

  • None of the five North Sea countries are on track to meet the 1.5-degree warming limit set by the Paris Agreement or the COP28 decision to transition away from fossil fuels.
  • If the five North Sea producers were counted as a single country, they would rank as the seventh-largest oil and gas producer in the world, just behind China.
  • North Sea governments’ continued approval of new oil and gas extraction and exploration could lead to over 10 billion tonnes (Gt) of new carbon pollution, posing a significant threat to a livable climate.
  • Urgent action is required from North Sea Governments to phase out oil and gas production by early 2030s and transition to renewable economies.
  • The lagging oil and gas policies of Norway and the UK have the biggest potential impact on total global emissions. Without an urgent change in policy, Norway and the UK are on track to rank amongst the world’s top 20 developers of new oil and gas fields through 2050.

To align with a livable temperature rise scenario, these five countries must stop approving new oil and gas development, establish and implement a Paris-aligned date to end oil and gas production, and adopt and implement just transition policies, including paying their fair share to fund Global South countries’ transitions off of fossil fuels.

Statements:

Silje Ask Lundberg, North Sea Campaign Manager at Oil Change International, said:
“The five major North Sea countries are at a crossroads: one path leads towards global leadership in climate action and green industries, where they take bold action to phase out oil and gas production that creates sustainable jobs and communities. The other path leads to catastrophic climate change, economic crisis, and the loss of status as climate leaders globally, as they cling to outdated practices while the world moves forward. The findings in this report underscore the urgent need for decisive action from North Sea governments. Failure to address these issues not only undermines international climate goals but also jeopardises the livability of our planet.”

Truls Gulowsen, head of Friends of the Earth Norway, said:
“We are not surprised that Norway ranks rock bottom among the North Sea countries analysed. Despite having all the tools in the world to ensure a just transition, our government’s choice is to continue to be Europe’s most aggressive oil and gas explorer. This is completely out of place, and totally unaligned with the Paris agreement and our climate responsibility.”

Tessa Khan, executive director at Uplift commented:
“This government is set on squeezing every last drop out of the North Sea, yet we know we’ve already discovered more oil and gas than it is safe to burn. Continuing to issue new licences and approve new fields, like the enormous Rosebank oil field off the Shetland coast, is reckless vandalism. It will only worsen the climate impacts that we can already see and feel, whether that’s Spring arriving earlier every year or more severe flooding and frequent wildfires.

“The UK is in a tiny club of countries that are driving this crisis, for such little public gain. Most of what’s left in the basin is oil, the majority of which we export. New drilling won’t lower our energy bills one bit, it just makes oil and gas companies even richer. We urgently need a government that’s prepared to stand up to these profiteers and change course.”

Helene Hagel, Head of Climate and Environmental Policy, Greenpeace Denmark, said
“Denmark is responsible for co-creating BOGA, potentially the most important diplomatic initiative in global climate policy for decades. On this foundation, Danish climate diplomacy is doing an admirable and important job on the international stage. However, at the same time, domestically the government is about to allow for a new oil field to start production until 2047, the Hejre-field. This is a potential disaster and must be stopped.

“Opening new fields now will wreck our planet even further and jeopardise the credibility of BOGA. The government uses too many weak justifications to rationalise our failure to practise what we advocate on the global stage – actually phasing out oil and gas production. Instead, they are allowing oil companies to increase their production in the coming critical 10-15 years. We might be the least disappointing in a class of underachievers, but to be Paris-aligned, we need to stop increasing production and phase out production within 10 years.”

Hiske Arts, Campaigner at Fossil Free Netherlands, said
“Even amidst an unfolding climate crisis, the Netherlands is more focused on producing new gas fields, than on introducing serious and ambitious measures to quickly phase out gas. It sends– as one of the richest countries on the earth – the message that climate action can be postponed. The Netherlands and the other North Sea countries need to stop focussing on fossil solutions for this fossil problem, and act in accordance with the climate urgency.”

Constantin Zerger, Head of Climate and Energy Department, Environmental Action Germany, said:
“We are at a critical juncture where the choices we make today will determine the course of our climate tomorrow. As this report shows, Germany’s current trajectory is deeply worrying. The German government’s failure to comply with the Paris Agreement jeopardises not only our global commitments, but also the well-being of future generations. It’s imperative that we immediately halt all new oil and gas development, reduce oil and gas demand, and invest in sustainable alternatives. The current legal framework allows for fossil fuel extraction to be permitted without strong climate and environmental requirements. Fundamental legal reforms are therefore needed in Germany to reflect the current advanced state of the climate crisis.”

The report also highlights country-specific failures:

  • Norway: Norway is the worst of all five North Sea countries, and is rated as ‘Grossly Unaligned’ in seven of eleven categories.  Despite commitments made at COP28, Norway continues to exhibit poor leadership in transitioning away from fossil fuels, issuing new licenses to the oil and gas industry shortly after the conference.
  • United Kingdom: The UK is the second worst of all five North Sea countries. Current policies in the UK fall short of achieving the goal of staying below 1.5°C heating, with proposed legislation further weakening climate tests and increasing licensing rounds for oil and gas extraction. Instead of being a global leader on climate, the UK is at its worst point in decades and the UK’s lack of leadership is failing the country. 
  • The Netherlands: Contrary to transitioning away from fossil fuel production, The Netherlands is accelerating exploration and new production of oil and gas, posing a significant threat to climate stability, and the country continues to spend billions annually in fossil fuel subsidies.
  • Germany: Despite comparatively smaller oil and gas production, Germany’s reliance on coal and lack of policies to address fossil fuel extraction contribute to its low ranking in climate action. Instead of investing in diversification and renewables, they are increasing their LNG infrastructure as a replacement. 
  • Denmark: Denmark stands out as the country that has done the most to align its oil and gas policies with the Paris Agreement, setting an end-date for oil and gas production and canceling new state-initiated licensing rounds. Despite this, there are loopholes allowing new field development and potentially keeping Danish production above 2023 levels until after 2035, and Denmark’s phase-out date must be moved up to the early 2030s.

Note:
There will be a press conference this morning at 10 AM CET Zoom- RSVP Here.
A recording will be made available following the press conference.

The post New Report Reveals North Sea Countries’ Oil and Gas Plans Breach Paris Agreement appeared first on Oil Change International.

In response to the State of the Union

Thu, 03/07/2024 - 19:39

In response to the State of the Union, Collin Rees, Oil Change International US Program Manager, said: 

“While fires rage in Texas and we prepare for yet another hottest year on record, Biden’s mention of the climate crisis in the State of the Union could have been missed in a blink. Following a year of mass protest and a COP28 decision calling on countries to transition away from fossil fuels, the world is watching major oil and gas producers like the United States. Some of Biden’s actions like his recent pause on new LNG export authorizations are steps forward, but the pause does not go far enough to address the massive expansion of fossil fuels in the United States driving the climate crisis and exacerbating health and safety impacts on communities living nearby. 

“Investing in renewables is one piece of the puzzle, but that alone won’t get the job done if the United States remains the world’s leading expander of oil and gas production. Biden’s climate legacy is on the line. U.S. climate leadership means stopping oil and gas expansion, ending fossil fuel subsidies and public finance for oil and gas projects overseas, and leading a just transition off fossil fuels.”

The post In response to the State of the Union appeared first on Oil Change International.

Over 550 U.S., International Groups Applaud Biden’s LNG Permitting Pause, Urge Further Action

Thu, 03/07/2024 - 06:01

FOR IMMEDIATE RELEASE

March 7, 2024

Contact:
Collin Rees, collin@priceofoil.org
Seth Gladstone, sgladstone@fwwatch.org

560+ U.S., International Groups Applaud Biden’s LNG Permitting Pause, Urge Further Action

Letter calls on the Biden administration to expand pause beyond Department of Energy and stop all pending LNG exports and fossil fuel infrastructure

WASHINGTON, DC — A letter delivered today to U.S. President Joe Biden from more than 560 environmental, climate, health, and advocacy organizations around the world applauded the administration’s decision to halt pending liquefied natural gas (LNG) export approvals to non-free trade countries and called on the administration to expand the pause to halt the permitting of new LNG infrastructure and export projects across all federal agencies and commissions. The letter was facilitated by Oil Change International, Food & Water Watch, Frack Action, and Healthy Gulf.

The letter also calls on the U.S. Department of Energy, as part of its review, to institute a broad and inclusive democratic process with public hearings and a comment period that allows for and empowers the voices of frontline communities, the scientific community, environmental advocates, economists, health professionals, Tribal governments, elected officials, business leaders and concerned individuals.

The letter reads, in part: “While the pause in Department of Energy approvals is needed and welcome, it is important to recognize that without further action from your administration, gas exports in the United States are projected to nearly double by 2035. Further, there are other permits pending with a litany of federal agencies for LNG export projects and related infrastructure. These include the Environmental Protection Agency, Coast Guard, Department of Transportation and the Federal Energy Regulatory Commission… It makes no sense to halt LNG on one hand and advance it with the other. All permits for new LNG and related infrastructure should be rejected.

The letter concludes: “We appreciate your recent halt to the Department of Energy’s LNG approvals. Now, as we face ever worsening climate impacts, we implore you to stand firm, follow the science, let the voices of the public be heard, and direct all federal agencies to stop all pending LNG exports and fossil fuel infrastructure now.”

Signatories on the letter include many international, national, youth, and frontline organizations from around the world and the United States, such as Friends of the Earth, 350.org, Greenpeace, U.S. Climate Action Network, Sunrise Movement, Fridays For Future, and the Indigenous Environmental Network. 

“Along the Gulf of Mexico, our coastal communities continue to call attention to the extreme harm perpetuated by the oil and gas industry, especially as it relates to the rapidly growing threat of liquified methane gas export terminals. We don’t need more destruction of wetlands for these terminals or more pollution and other safety risks to our nearby residents, and we certainly don’t need to be expanding our dependence on fossil fuels,” said Martha Collins, Executive Director of the regional nonprofit Healthy Gulf. “It’s high time we see the administration take bold action to protect our communities, our environment, and way of life. The pause was just a first step, and we are honored to see nearly 600 other groups around the world that feel the same.”

“While on the campaign trail in 2020, President Biden looked our generation in the eye and promised he would ‘end fossil fuel’ — yet here we are, four years later. What have we seen? Record flooding, record wildfires, record heat, and record fossil fuel approvals from this administration,” said Keanu Arpels-Josiah, 18-year-old organizer with Fridays For Future NYC and a lead organizer of the March To End Fossil Fuels. “The generation that elected this so-called climate president is sick and tired of false promises from his administration. That’s why we took to the streets in September and it’s why we now call on President Biden to extend the LNG pause, declare a climate emergency, and allow for meaningful public input from his constituents. Our lives — our futures — are on the line.” 

“Asian countries, including Japan, do not need U.S. LNG. The widely publicized LNG demand growth in Southeast Asia is fueled by artificial demand that Japan is trying to create for its own vested corporate interest in keeping fossil fuel infrastructure alive,” said Hiroki Osada, Development Finance & Environment Campaigner at Friends of the Earth Japan. “Japan has been extremely slow to transition away from fossil fuels, but the Biden decision is a decisive signal that could change this course, and we need more of it. It’s time to say ‘Sayonara’ to LNG.” 

“More and more Europeans every day are standing up against fracked gas imports from the United States. While European demand for gas has decreased by about 20 percent in recent years, import volume continues to mushroom. President Biden’s initial LNG pause is a good start, but it must be made permanent and it must be expanded,” said Frida Kieninger, Director of E.U. Affairs at Food & Water Europe. “On both sides of the Atlantic, we need a check on destructive LNG hype that’s trampling on human rights and our climate.” 

Read the full letter: http://priceofoil.org/content/uploads/2024/03/LNG-Letter-to-Biden_final.pdf

###

The post Over 550 U.S., International Groups Applaud Biden’s LNG Permitting Pause, Urge Further Action appeared first on Oil Change International.

Press Conference: New Report Reveals North Sea Countries’ Oil and Gas Plans Breach Paris Agreement

Tue, 03/05/2024 - 07:50

Date: March 12, 2024
Time: 10:00 AM CET
Location: Zoom – RSVP here

Overview: 

Join us for a critical press conference addressing the failure of the five major North Sea oil and gas-producing countries – Norway, United Kingdom, the Netherlands, Germany, and Denmark – to fulfill their climate commitments. For the first time ever, we have developed a set of benchmarks for rating North Sea countries’ oil and gas production policies by their level of alignment with the Paris Agreement. The press conference will unveil a comprehensive report developed by Oil Change International, titled Troubled Waters: How North Sea Countries Are Fueling Climate Disaster, detailing discrepancies between these countries’ actions and the urgent need to phase out fossil fuels as outlined in the Paris Agreement and recent COP28 decisions. 

None of the five North Sea countries are on track to meet the 1.5-degree C warming limit set by the Paris Agreement or the COP28 decision to transition away from fossil fuels. 

Speakers: 

  • Silje Ask Lundberg, Oil Change International
  • Helene Hagel, Greenpeace Denmark
  • Hiske Arts, Fossielvrij Netherlands
  • Truls Gulowsen, Friends of the Earth Norway
  • Tessa Khan, Uplift (United Kingdom)
  • Constantin Zerger, Deutsche Umwelthilfe e.V (Germany)

Additional Information: 

Embargoed report and interviews can be arranged upon request.

Following the press conference, there will be a Q&A session for members of the media.

Press conference will be recorded.

Please RSVP here.

The final report will be available here on March 12, 2024, at 10:00 AM CET.

The post Press Conference: New Report Reveals North Sea Countries’ Oil and Gas Plans Breach Paris Agreement appeared first on Oil Change International.

COP28 President points again to 1.5ºC “North Star”, but UAE expansion plans still on the table

Thu, 02/22/2024 - 03:57

FOR IMMEDIATE RELEASE

Contact: 

Nicole Rodel, Oil Change International – nicole@priceofoil.org 

 

COP28 President points again to 1.5ºC “North Star”, but UAE expansion plans still on the table

This week at the IEA roundtable in Paris, COP28 President Dr Sultan Al Jaber claimed that only addressing the supply side of fossil fuels would create “energy turmoil”, and emphasized the need for demand to be equally addressed in the energy transition. 

In response, Romain Ioualalen, Global Policy lead at Oil Change International, said: 

“Since COP28 in Dubai, both producers and importers of fossil fuels have a responsibility to accelerate the transition away from them.  While COP28 President Al Jaber is right to point out that fossil fuel demand needs to decline rapidly, this cannot be an excuse for the massive expansion of fossil fuels planned by his own company, ADNOC, and the five rich global north countries responsible for the majority of planned oil and gas expansion to 2050, led by the United States. 

“These five countries have the greatest financial means and responsibility to lead a fast and fair global phaseout of production. Instead, they are leading the way in jeopardizing the global 1.5ºC goal, which is supposed to be the North Star of the global climate talks. 

“If these countries want to live up to the commitment they made in Dubai, they need to immediately end fossil fuel expansion, design Nationally Determined Contributions that reflect their responsibility in being first and fastest to phase out fossil fuel production and use, and show up to COP29 next year with concrete plans to fund climate action, contributing the needed funds to make ambitious promises real. There is enough public money to ensure a full, fast, fair, and funded fossil fuel phaseout and build a fair and renewable economy in its place, and the road to COP29 must mark a turning point in countries’ approach to public finance.”

The post COP28 President points again to 1.5ºC “North Star”, but UAE expansion plans still on the table appeared first on Oil Change International.

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