Just 100 companies responsible for 71% of global emissions, study says (excerpt): The Guardian (3 years old but still relevant)

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Note: A three year old article but what has changed apart from some greenwashing?

A relatively small number of fossil fuel producers and their investors could hold the key to tackling climate change

Just 100 companies have been the source of more than 70% of the world’s greenhouse gas emissions since 1988, according to a new report.

 

Exxon

The Carbon Majors Report (pdf) “pinpoints how a relatively small set of fossil fuel producers may hold the key to systemic change on carbon emissions,” says Pedro Faria, technical director at environmental non-profit CDP, which published the report in collaboration with the Climate Accountability Institute. 

Traditionally, large scale greenhouse gas emissions data is collected at a national level but this report focuses on fossil fuel producers. Compiled from a database of publicly available emissions figures, it is intended as the first in a series of publications to highlight the role companies and their investors could play in tackling climate change.

The report found that more than half of global industrial emissions since 1988 – the year the Intergovernmental Panel on Climate Change was established – can be traced to just 25 corporate and state-owned entities. The scale of historical emissions associated with these fossil fuel producers is large enough to have contributed significantly to climate change, according to the report.

Major investment firm dumps Exxon, Chevron and Rio Tinto stock (excerpt): The Guardian

"Storebrand says corporate lobbying to undermine climate solutions is ‘unacceptable’"

companies that use their political clout to block green policies

 "A Nordic hedge fund worth more than $90bn (£68.6bn) has dumped its stocks in some of the world’s biggest oil companies and miners responsible for lobbying against climate action.

Storebrand, a Norwegian asset manager, divested from miner Rio Tinto as well as US oil giants ExxonMobil and Chevron as part of a new climate policy targeting companies that use their political clout to block green policies.

The investor is one of many major financial institutions divesting from polluting industries, but is understood to be the first to dump shares in companies which use their influence to slow the pace of climate action.

Jan Erik Saugestad, the chief executive of Storebrand, said corporate lobbying activity designed to undermine solutions to “the greatest risks facing humanity” is “simply unacceptable”.

It's not OK to profit from the wreckage of the climate.

Storebrand will also divest from German chemicals company BASF and US electricity supplier Southern Company for lobbying against climate regulation, and a string of companies that derive more than 5% of their revenues from coal or oil sands.

“We need to accelerate away from oil and gas without deflecting attention on to carbon offsetting and carbon capture and storage. 

Renewable energy sources like solar and wind power are readily available alternatives,” he said.

“The Exxons and Chevrons of the world are holding us back,” he added. “This initial move does not mean that BP, Shell, Equinor and other oil and gas majors can rest easy and continue with business as usual, even though they are performing relatively better than US oil majors.”"

Go to The Guardian complete article

Related: How Hard Is It to Quit Coal? For Germany, 18 Years and $44 Billion (excerpt): NYT

Related: Prepare for even far more economic chaos than the depression caused by Covid-19


#jail the climate criminals, #jailclimatecriminals, #climatecriminals, Exxon, Chevron, BP, Shell, 

 

SBS News: Greens push Labor to quit fossil fuels

The Greens say fossil fuel companies' donations to Labor show it will be tough for the party to fully commit to renewable energy.

Bill Shorten has promised to make half of Australia's power renewable but the Greens say Labor wont give up on fossil fuels due to the donations it gets.

Data shows gas, oil and coal companies gave Labor $1.62 million over the past five years, including $641,000 from Woodside Energy.

"Climate change is one of the leading causes of habitat loss and extinction, yet the Labor Party is beholden to emissions-intensive polluters like Woodside, Santos and Chevron," Greens Senator Sarah Hanson-Young says.

See SBS News article 

#politicaldonations  #LaborParty #Chevron #WoodsideEnergy #renewableenergy


 

Australia sucks up to Trump at Poland Climate Change Conference

Australian Greens climate change and energy spokesperson Adam Bandt MP today said the Morrison government was sucking up to Donald Trump at the global climate change conference (the 24th Conference of the Parties) in Katowice, Poland. 

Instead of siding with countries who are serious about the transition away from coal, Australia overnight cosied up to representatives from Trump’s climate-denying administration who were spruiking fossil fuels, joining them on a panel to promote fossil fuels and Chevron’s giant Gorgon LNG project.