The new briefing, titled ”Investing in Disaster”, exposes the countries and companies that have approved the most new oil and gas extraction in 2022, and that could be responsible for major expansion through 2025.
Since May 2021, Shell has expressed interest to develop ten new oil and gas extraction assets, which could lock in additional CO2 pollution (325 million metric tonnes) two times greater than the Netherlands’ total CO2 emissions in 2021.
Despite the ongoing climate crisis, Shell continues to develop new oil and gas assets. Since the Dutch court ruling in May 2021, Shell has made definitive investments in 10 assets, which once burned will result in 325 million metric tonnes of CO2 emissions. Shell also co-owns more than 750 untapped oil and gas assets, which would amount to 4.3 billion metric tonnes of extra CO2 emissions, 30 times more than the total emissions from the Netherlands in 2021.
This paper outlines priorities for the Beyond Oil and Gas Alliance (BOGA) and its members that were identified by civil society groups to turn what has remained a largely aspirational diplomatic initiative into a force for increased climate action in line with equity, justice, and science.
Today, a few days after a high level event (1) organized by the Beyond Oil and Gas Alliance (2) on the margins of the UN General Assembly in New York, civil society organizations launch a position paper urging the coalition and its members to deliver on commitments to promote a global phase out of oil and gas production, and turn aspirations into bold and ambitious climate action in line with equity, justice, and science.
Last week, a new scientific report was published looking at climate tipping points. As one of the authors notes: “The world is heading towards 2-3C of global warming. This sets Earth on course to cross multiple dangerous tipping points that will be disastrous for people across the world”.
A peer reviewed paper, published today in Nature Communications, examines the global decarbonisation scenarios produced by BP, Shell and Equinor and finds they are incompatible with the climate objectives of the Paris Agreement.
Yesterday, Australia’s liberal Labor Party secured enough seats to hold an outright majority in the House, as the counting of votes continued ten days on from the historic election.
Today is Shell’s AGM, where the company will try and spin to its shareholders and the wider public that it is leading the climate fight and race to net zero. But its all a climate charade. Its all a lie.
The UK House of Commons Environmental Audit Committee have launched a inquiry into Accelerating the transition from fossil fuels and securing energy supplies, which is scrutinising the UK Government’s Energy Security Strategy and its North Sea Transition Deal (for oil and gas production in the UK’s Continental Shelf). Oil Change International submitted the following evidence for the committee.