Fossil Fuel News

3rd March, 2021

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Exxon Removes Nearly A Third Of It's Proved Reserves From Its Books - Essentially The Entire Tar Sands

Last week Exxon wiped a whopping 30% of its proved reserves off its books! This is big news for the divestment movement, given that proved reserves make up a large part of how oil companies are valued.

Fossil fuels have no future. 

22nd February, 2021

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BP pays £ 900 million for offshore wind farms – with a huge sting in the tail.

Amid celebrations of this announcement - which we welcome - BP conveniently forgot to mention that despite advertising themselves as a ‘green’ energy company, they plan to spend £41 billion on new oil exploration in the next decade, including projects in the Canadian ‘tar sands’, the Arctic National Wildlife Reserve and the Amazon rainforest.

9th February, 2021

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ANZ to stop lending to Australia's biggest coal port over its exposure to fossil fuels

In 2020 the bank adopted policies which prohibited it from making any new deals or refinancing companies with considerable exposure to fossil fuels - highlighting how seriously they view the risk of asset stranding, and forcing the port to commit to an agreement based around carbon emission reductions. 

1st November, 2020

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Exxon, by far the worst offender for climate misinformation over the last 30 years has seen $2.37bn wiped off it's value in 2020 alone. Time for a managed transition to protect workers jobs. 

4th September, 2020

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Fossil fuel companies' $300bn back up plan to trash the planet being hit by War On Plastic. ✊

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