New Reads: Big Oil Reality Check and more
Dear Coalition Supporters,
Happy Thursday! Here is a compilation of some recent interesting and relevant reads if you missed them, alongside some major takeaways. Enjoy!
Big Oil Reality Check
Oil Change International, a research and advocacy organization, published a comprehensive Big Oil Reality Check report on eight major fossil fuel companies’ climate pledges and plans, a report endorsed by 200+ climate organizations. As you might expect, they are just empty, flashy words on paper and propaganda videos. All eight corporations were rated as “Grossly Insufficient” or “Insufficient” on most criteria — with Exxon, Chevron, and ConocoPhillips having the worst rankings. All eight companies have plans to increase production, which could likely lead to more than 2.4 °C of temperature increase. This amazing article by the Guardian provides more coverage of the report.
On a related note, check out this captivating article describing how a 2018 confidential internal presentation obtained by congressional investigators explicitly showed Exxon’s belief that Carbon Capture and Storage (CCS) is a “mediocre-at-best contributor to carbon sequestration” — as a former Exxon data scientist stated herself.
350.org Silicon Valley
Our friends at 350 Silicon Valley recently published this 1-min quick action to any Bay Area community members: sending an email to the current and future presidents of Stanford demanding divestment and dissociation. Spread this link to your Bay Area friends and family: https://actionnetwork.org/letters/tell-stanford-cut-ties-with-fossil-fuel-companies.
Plus, check out their blog post about Doerr’s fossil fuel ties from back in March.
Banks: Banking on Climate Chaos
Last but not least, a Banking on Climate Chaos report endorsed by 589 organizations from 69 countries is the most comprehensive analysis of fossil fuel financing of the top 60 banks. Internationally, these 60 banks committed $705 billion USD to the fossil fuel business in 2023 — and since the Paris Agreement, $6.9 trillion. Click on their website to learn more and hear stories from frontline communities about the on-the-ground impact of this financing.
In Solidarity,
