This briefing assesses Shell’s fossil fuel extraction plans in light of Shell’s appeal of a Dutch court verdict requiring the company to take responsibility for its climate pollution. Our analysis shows that Shell continues to plan for levels of oil and gas production and investment that undermine the world’s chances of curtailing climate disaster.
Global Industry
COP28: Total CEO Patrick Pouyanné to Call for Release of Imprisoned Ugandan Stop EACOP activists
Today at COP28, Total CEO Patrick Pouyanné said that the international oil major would call for the release of imprisoned Ugandan StopEACOP activists.
We Won’t Be Tricked: How the fossil fuel industry is using the dangerous “abatement” distraction to stay in business
Oil and gas companies, and some governments, are more interested in looking like they’re acting on climate change than actually acting. They spend billions on smoke and mirrors such as “carbon capture and storage,” “certified gas,” ammonia co-firing, and hydrogen when in reality, they are trying to build escape hatches to continue their dirty business as usual.
New Data: Shut Down 60% of Existing Fossil Fuel Extraction to Keep 1.5°C in Reach
When you are in a hole, the first step is to stop digging. New data shows the majority of the fossil fuel reserves within active fields and mines must stay in the ground to maintain a liveable climate.
Ceres principles risk eradicating progress on net-zero norms
US non-profit Ceres has produced a paper aimed at explaining actions that oil and gas exploration and production companies (E&Ps) can take to reduce their emissions. It is also supposed to provide useful information on climate alignment to the sector’s investors and bankers.
The paper suffers from a number of alarming weaknesses which threaten to reverse progress on setting standards for net-zero finance. Consequently, Reclaim Finance, Oil Change International, urgewald, CIEL, and Stand.Earth have jointly published this analysis in response.