FOR IMMEDIATE RELEASE May 25, 2023 French oil major responsible for more climate pollution in 2022 than France – its own emissions targets allow same level of greenhouse gas pollution through 2030 [Paris, France] – New analysis released ahead of TotalEnergies’ annual shareholder meeting shows the French oil and gas major used record 2022 profits … Read More
These briefings reveal that Total, Eni, and Equinor are on the cusp of approving a surge of new oil and gas development. If they proceed with all the projects in their anticipated pipeline for 2023, Eni could rank as the world’s third worst oil and gas expander this year and Equinor as the world’s eighth worst by the total volume of new reserves approved for extraction.
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.
The briefing reveals that new oil and gas production approved to date in 2022 and at risk of approval over the next three years could cumulatively lock in 70 billion tonnes (Gt) of new carbon pollution. This is equivalent to almost two years’ worth of global carbon emissions from energy at current levels, 17 percent of the world’s remaining 1.5°C carbon budget, or the lifecycle emissions of 468 coal power plants.