A new analysis of the activities of twelve major fossil fuel giants shows that the companies are misleading the public about their emission-reduction commitments while raking in record profits from fossil fuels, which are driving catastrophic extreme weather events across the globe.
In a report published Wednesday, Greenpeace examines the decarbonization pledges, investments, and profits of six global fossil fuel giants — including Shell, BP, and TotalEnergies — and six European oil companies.
The results indicate that in 2022 close to 93% of the oil giants' investments on average went to keeping the companies on the "fossil oil and gas path" while just 7.3% were aimed at promoting "low-carbon solutions" and sustainable production.
Kuba Gogolewski, a finance campaigner at Greenpeace, said that "as the world endures unprecedented heat waves, deadly floods, and escalating storms, Big Oil clings to its destructive business model and continues to fuel the climate crisis."
"Instead of providing desperately needed clean energy, they feed us greenwashing garbage," Gogolewski added. "Big Oil's unwillingness to implement real change is a crime against the climate and future generations. Governments need to stop enabling fossil fuel companies, heavily regulate them, and plan our fossil fuel phase-out now. They will never change on their own."
Yes, that is the point. They will never change on their own.
FULL STORY -- https://www.commondreams.org/news/oil-company-emissions
ALTERNATIVE LINK -- https://web.archive.org/web/20230826041730/https://www.commondreams.org/news/oil-company-emissions
#Environment #Climate #ClimateChange #ClimateCrisis #ClimateEmergency #Capitalism #BusinessAsUsual #Greenwashing
