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Article

13 Oct 2015

Author:
DIW Berlin, Heinrich-Böll-Stiftung, European Climate Foundation & others

Press release: "Global Climate Movements Seek Fossil Fuel Company Transparency on Future Viability of Oil, Coal, Gas"

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Global reporting standards for extractive industries must include transparency from fossil fuel companies about the future viability of their oil, coal and gas projects in a warming world, says a large movement of environment, climate and indigenous peoples organisations...The groups, including Oil Change International, the Heinrich Böll Foundation and the Climate Justice Programme, have written to the EITI, seeking amendments to the global reporting standard to include risks related to climate change...The groups define ‘climate risk’ as economic and investment risks associated with the drop in demand of oil or coal, or the risk of policy reform that would phase out fossil fuel use in favour of renewable energies. They also identify the increasing risks associated with litigation against the fossil fuel industry for its role in contributing to climate change and the efforts of some to spread disinformation about climate change to prevent policy reform...

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