BP wants to create a 10-fold increase in annual low carbon investments in the coming decade, to $5 billion a year by 2030, and it says it is working on its promise of net zero-emissions by 2050.
BP to cut oil production 40% by 2030 and invest billions into green energy Read more
The bank, a multinational investment company headquartered in Germany, announced Monday that it will no longer offer financial services to new projects that involve drilling for oil or gas in the Arctic.
Deutsche Bank to stop funding Arctic drilling after pressure from activists Read more
The U.K.’s biggest pension fund, the government-backed National Employment Savings Trust (Nest) scheme with nine million members, is to begin divesting from fossil fuels in what climate campaigners have hailed as a landmark move for the industry.
U.K.’s biggest pension fund begins fossil fuels divestment Read more
The Trans Mountain pipeline’s annual liability insurance contract had shown Zurich was the lead insurer for the pipeline. The insurance, which provides $508 million of cover, runs to August 2020.
Insurance company Zurich drops coverage for Trans Mountain oil pipeline Read more
According to Norwegian energy consultancy DNV GL, global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both.
Global oil demand and CO2 emissions likely peaked in 2019 Read more
A federal judge has sided with the Standing Rock Sioux tribe and ordered the Dakota Access pipeline shut down until a more extensive environmental review is done. It must be emptied no later than August 5, 2020.
U.S. federal judge suspends Dakota Access pipeline over environmental concerns Read more
The lawsuit, filed in state court, alleges violations of state laws pertaining to consumer fraud, deceptive trade practices, and false advertising. Minnesota attorney general Keith Ellison says the companies devised plans to deceive the public about climate change science.
The calls were contained in a 225-page manual for church leaders and workers to mark the fifth anniversary of Pope Francis’ landmark encyclical “Laudato Si” on the need to protect nature, life and defenseless people.
The Vatican urges Catholics to drop investments in fossil fuels and arms Read more
The institutions represent a variety of faiths, including those from Catholic, Methodist, Buddhist, Quaker, Baptist, and Anglican traditions and over $1 billion in assets. The coalition is urging governments to focus on a just, low-carbon future following the COVID-19 pandemic.
Global coalition of faith institutions divests more than $1 billion from fossil fuels Read more
The UC milestone capped a five-year effort to move the public research university system’s $126-billion portfolio into more environmentally sustainable investments. UC officials say their strategy is grounded in concerns about the planet’s future and in what makes financial sense.
