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, 

 

The big polluters’ masterstroke was to blame the climate crisis on you and me : The Guardian

Let’s stop calling this the Sixth Great Extinction. Let’s start calling it what it is: the “first great extermination”. A recent essay by the environmental historian Justin McBrien argues that describing the current eradication of living systems (including human societies) as an extinction event makes this catastrophe sound like a passive accident.

While we are all participants in the first great extermination, our responsibility is not evenly shared. The impacts of most of the world’s people are minimal. Even middle-class people in the rich world, whose effects are significant, are guided by a system of thought and action that is shaped in large part by corporations.

We are guided by an ideology so familiar and pervasive that we do not even recognise it as an ideology. It is called consumerism.

The Guardian’s polluters series reports that just 20 fossil fuel companies, some owned by states, some by shareholders, have produced 35% of the carbon dioxide and methane released by human activities since 1965. This was the year in which the president of the American Petroleum Institute told his members that the carbon dioxide they produced could cause “marked changes in climate” by the year 2000. They knew what they were doing.

Even as their own scientists warned that the continued extraction of fossil fuels could cause “catastrophic” consequences, the oil companies pumped billions of dollars into thwarting government action. They funded thinktanks and paid retired scientists and fake grassroots organisations to pour doubt and scorn on climate science. They sponsored politicians, particularly in the US Congress, to block international attempts to curtail greenhouse gas emissions. They invested heavily in greenwashing their public image.

These efforts continue today, with advertisements by Shell and Exxon that create the misleading impression that they’re switching from fossil fuels to renewable energy. In reality, Shell’s annual report reveals that it invested $25bn in oil and gas last year. But it provides no figure for its much-trumpeted investments in low-carbon technologies. Nor was the company able to do so when I challenged it.

Read The Guardian's George Monbiot article 

See also:

Climate change forcing millions out of homes: report: 9 NEWS

 

 

#criminales climáticos de la cárcel

#criminalesclimáticosdelacárcel

#jailclimatecriminals

#gaolclimatecriminals

Just 20 Companies Are Responsible for 35% of All Greenhouse Gas Emissions: Medium

The Climate Accountability Institute recently released a new report into the role of the oil and gas industry in our climate crisis. The report looks at companies within this industry since 1965*, evaluating the fossil fuels which they are responsible for extracting from the earth and the emissions that these fossil fuels are responsible for.

The key finding of this report? That just twenty fossil fuel companies are responsible for 35% of the global total greenhouse gas emissions since 1965.

These companies are a mixture of investor-owned, private companies, and state-owned companies. Top of the list comes Saudi Aramco, a state-owned company in Saudi Arabia which is responsible for 4.38% of the global total emissions since 1965. In terms of private companies, Chevron, an American energy company active in 180 countries, is the worst offender, responsible for 3.2% of global total emissions since 1965. You probably recognise Exxon, BP, and Shell who are also up there in the list.

Credit: http://climateaccountability.org/pdf/CAI%20PressRelease%20Top20%20Oct19.pdf

 

Tabitha Whiting

Oct 30 · 4 min read

Read the Medium article

Related: 

Morrison’s claim of an Australian gold in per capita renewables is not true: RenewEconomy

 

Video: How the 1% will live After The End Of The World

 

#criminales climáticos de la cárcel

#criminalesclimáticosdelacárcel

#jailclimatecriminals

#gaolclimatecriminals

It’s Time to Try Fossil-Fuel Executives for Crimes Against Humanity: Jacobin

......"These are welcome attempts to hold the industry responsible for its role in warming our earth. It’s time, however, to take this series of legal proceedings to the next level: we should try fossil-fuel executives for crimes against humanity.

Guilty Beyond a Reasonable Doubt

Just one hundred fossil fuel producers — including privately held and state-owned companies — have been responsible for 71 percent of the greenhouse gas emissions released since 1988, emissions that have already killed at least tens of thousands of people through climate-fueled disasters worldwide.

Green New Deal advocates have been right to focus on the myriad ways that decarbonization can improve the lives of working-class Americans. But an important complement to that is holding those most responsible for the crisis fully accountable. It’s the right thing to do, and it makes clear to fossil-fuel executives that they could face consequences beyond vanishing profits."

Read the Jacobin story 

Related:

Great Barrier Reef outlook now 'very poor', Australian government review says: The Guardian

The ‘Historical Jigsaw of Climate Deception’: Private Notes Show How Big Oil Spread Climate Science Denial: DESMOG

EXXON & climate change

We’ve all heard the dodgy arguments: ‘the science is uncertain’, ‘climate change is natural, not down to humans’, ‘science has been hijacked by politics’… Now a new cache of documents sheds light on the origins of the disinformation.  

In another verse of a now familiar refrain, a fossil fuel industry group in the 1990s publicly promoted arguments to undermine confidence in climate science while internally acknowledging their products were driving up temperatures.  

• How Big Oil Tried to Capture the UN Intergovernmental Panel on Climate Change
• Global Climate Coalition: Documents Reveal How Secretive Fossil Fuel Lobby Group Manipulated UN Climate Programs

A cache of meeting minutes, briefings, and emails uncovered by the Climate Investigations Center shows how industry group the Global Climate Coalition (GCC) used its financial clout and political connections to cast doubt on mainstream climate science until its disbandment in 2002. The GCC would for decades cast doubt on the veracity of climate science and strategically spread the message that the UN Intergovernmental Panel on Climate Change (IPCC) was a politicised body, to discourage regulatory reform that would hit coalition members’ profits. 

Shell is not a green saviour. It’s a planetary death machine : The Guardian

Is the Shell oil company greenwashing?

"Don’t buy the greenwash. Shell’s initiatives, which have won over many conservation groups, are dwarfed by its investment in oil and gas"

"Shell’s “cash engines”, according to its annual report, are oil and gas. There is no sign that it plans to turn the engines off. Its “growth priorities” are chemical production and deep water oil extraction. It does list low-carbon energy among its “emerging opportunities” in future decades, but says it will develop them alongside fracking and liquefied fossil gas technologies. In the future, the company says, it will “sell more natural gas”. But as an analysis by Oil Change International explains, “there is no room for new fossil fuel development – gas included – within the Paris agreement goals”. Even existing gas and oil extraction is enough to push us past 1.5C of global heating. Shell is a company committed for the long term to fossil fuel production – which is another way of saying ecocide."

by George Monbiot

Read The Guardian article 


See also:

Meet the Money Behind The Climate Denial Movement: Smithsonian