UN secretary-general Antonio Guterres called on Wednesday for a “windfall” tax on the profits of fossil fuel companies to help pay for the fight against global warming, calling them the “godfathers of climate chaos”.
About ten years ago the writer and New Yorker magazine cartoonist Tom Toro published his now famous cartoon showing three children and an adult around a campfire in the middle of a desert with the caption “Yes, the planet got destroyed. But for a beautiful moment in time we created a lot of value for shareholders.”
A worrying aspect of the global energy transition now gathering pace is how impoverished countries with large oil and gas discoveries react to wealthy nation rhetoric telling them that they should kiss the chance of making $billions goodbye before they’ve even started harvesting the resource.
Legal & General Investment Management, the UK’s largest asset manager, said it wants Shell Plc to explain how it thinks it can still reach net zero emissions by 2050 while ratcheting up investments in fossil fuels.
FoE has said the Mozambique LNG project may produce 4.5 billion tonnes of greenhouse gases. It complained the UK government had failed to evaluate or calculate these.
In 2015, we set the goal of limiting global warming to less than 1.5 degrees Celsius. However, the latest UNFCCC estimates show that we are far exceeding this limit.
Do you know how your company is going to reach net zero by 2050? If we are to achieve that aim, every single business is going to need to play its part.
The deletion of a single word in the latest draft of the climate deal being negotiated at the COP26 climate conference signals a surprisingly ambitious move to keep global warming below 1.5 degrees Celsius.
By Mark Ferguson, Public Policy Manager at Pinsent Masons
Delegates from around the world are today arriving in Glasgow ahead of a two-week conference that will test the willingness of today’s world leaders to deliver on the promises they or their predecessors made in Paris six years ago.
An “alarming” new report setting out the impact of climate change on the planet should spell the end for oil and gas, according to a senior international figure.