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According to latest research by Urgewald, the law firm Hunton Andrews Kurth has been contracted by Guyana’s government for $1.2 million to write the country's new Petroleum laws. The cost of the consultancy will be financed through the World Bank‘s Petroleum Resources Governance and Management Project. [1] It is part of a bigger plan to transform Guyana into a major oil producer after large oil fields were discovered off the country's coastline. Due to the massive harm the drilling would cause to Guyana, the entire Caribbean and the world's climate, it is heavily criticized by Urgewald.

Deep sea drilling near Guyana one of the biggest oil projects of our time

World Bank providing millions to oil development in Guyana    

Court gave green light to oil companies ExxonMobil, Hess and CNOOC

Urgewald’s director Heffa Schuecking says:

„We are extremely happy to have convinced Crédit Mutuel to take this important step. They are now setting the benchmark for a consistent coal exit. Once again, it is one of the smaller banks that leads the way in terms of efficient climate action. (...)”

Japanese and European banks top lenders, Chinese banks top underwriters

US companies biggest institutional investors in the coal plant pipeline

French global insurer AXA has put European coal companies on notice that they should publish coal phase out plans compatible with the UN Paris clima-te agreement by 2021, announcing today that it will totally phase out its insu-rance and investment exposure to coal by 2030 in the EU and OECD countries, and by 2040 everywhere else.

•    New Study: $1.6 Bn Invested in Fossil Fuels

•    Clear Contradictions to Bank’s Ambitions: "Clean & Green"

•    People from Affected Countries Warn of Harmful Projects