FOR IMMEDIATE RELEASE
March 26, 2018
Greg Muttitt, greg [at] priceofoil.org
David Turnbull, david [at] priceofoil.org
Statement: Shell’s New “Climate” Scenario Is Good for Shell, Bad for Humanity
Today, Shell released a new report and “climate” scenario entitled “Sky,” which outlines a possible energy and emissions future for the world that would involve massive negative emissions from technologies not yet invented to avoid the impacts of catastrophic global warming. In response, Greg Muttitt, Research Director at Oil Change International, released the following comment:
“Shell seems only able to foresee possible futures that are favourable to its own business. Today’s climate scenario sees oil and gas consumption staying at or above today’s levels for decades into the future. How can such a world be aligned with the Paris goals? The truth is that it’s not: it ignores the 1.5-degree goal, and might keep us below 2 degrees only if new technologies are invented to suck carbon out of the atmosphere.
“Scientists have warned that even 2 degrees of warming is dangerous, and this is why the Paris goals aim to keep warming well below that level. Predicating a safe future on the creation of unproven technologies does not reflect that understanding. In reality, we need much faster cuts in emissions.
“Investors are increasingly asking oil companies to stress-test their portfolios against action on climate change. Shell’s new report does not provide a stress test, because it describes a future in which the company faces no stress.
“The lesson is simple: If you want to know how to fix climate change, don’t ask a company that wants to sell you more oil and gas.”