fossil fuels

Shareholders Force Big Oil to Acknowledge Climate Risk — But Are Still Waiting for Action

Read time: 3 mins

By Megan Darby, Climate Home News

Oil companies are under more pressure than ever to reckon with their climate impact, this AGM season.

Supermajor Exxon Mobil has published its first assessment of what holding global warming to 2C means for its business, prompted by a shareholder revolt in 2017.

Shareholder activists have moved on to target second-tier companies, winning resolutions to make Kinder Morgan and Anadarko follow suit. Several firms pre-empted a vote by agreeing to their demands.

In Europe, where most oil majors have already produced 2C scenarios, the conversation is turning from disclosure to action.

Kicking Big Polluters Out Of Climate Talks 'Not Very Useful', Says Poland's Climate Envoy

Read time: 3 mins

By Megan Darby, Climate Home News

Poland’s climate envoy dismissed calls to keep polluters out of UN talks, ahead of a controversial negotiation in Bonn on Thursday about widening participation.

Activists outside the talks put pressure on the EU to support a conflict of interest policy for businesses getting involved in the process. They argue that fossil fuel companies are a malign influence and weaken climate ambition to protect their profits.

But Tomasz Chruszczow, who has a leading role in this December’s Katowice climate summit, told Climate Home News in an interview he did not recognise that problem.

We want everybody in this action,” he said. “Even if they are now generating electricity from fossil fuels – the majority of electricity comes from fossil fuels – still it is changing, but it is a process.

North Sea Clean-Up Costs 'Likely To Double’

Read time: 4 mins

By Alex Kirby, Climate News Network

The UK’s North Sea clean-up costs – the price to be paid for decommissioning its oil and gas industry – will probably more than double, a British group says.

The group is the Intergenerational Foundation (IF), an independent, non-party-political charity which works to protect the rights of younger and future generations in British policy-making.

It says British children will face a bill for decommissioning the North Sea fossil fuel industry that is likely to be double the government’s estimate – £80bn, not the official target of £39bn. In arriving at the lower figure, the Foundation says, the UK government ignored evidence from its own industry regulator of typical overspending, leading to a serious underestimate of the real costs.

Labour: Fossil Fuel Companies Knew about Climate Change and Can No Longer Hide From Their Responsibilities

Read time: 3 mins

By Megan Darby, Climate Home News

UK Labour supported a call by Vanuatu for a “climate damages tax” on fossil fuel producers at a meeting of Commonwealth heads of government in London this week.

It is eminently reasonable that those most responsible for the damages caused by climate change should pay a greater share,” said UK Labour shadow international climate change minister Barry Gardiner.

He was speaking at a side event on Monday attended by Vanuatu’s foreign minister Ralph Regenvanu and Greens MP Caroline Lucas. Gardiner said Labour, unlike the Greens, had not settled on the tax as a formal policy.

Labour has not committed to a specific climate damages tax, but we are clear that fossil fuels can no longer hide away from their enormous responsibilities,” Gardiner said.

Mapped: The UK Universities that have Pledged to Divest from Fossil Fuels

Read time: 5 mins
divestment protest

Are you a student thinking about where to go to university? Do you care about the environment, and companies whose activities are responsible for climate change?

There is a sense of momentum among the UK movement urging universities to divest from fossil fuels, and reinvest in low carbon technologies, which has been gaining traction since 2012.

Universities are major investors. Campaigners are trying to use this fact to encourage institutions to withdraw their support for the fossil fuel industry by selling their shares in dirty energy companies — also known as divestment.

UK Council Pensions Investing £16.1 Billion In Fossil Fuels

Read time: 4 mins
UK council pensions investing in fossil fuels

There has been no significant reduction in the level of fossil fuel investment by local council pensions since the Paris climate deal was agreed two years ago, according to new data.

The research, compiled by environmental groups 350.org, Platform, Energy Democracy Project and Friends of the Earth, shows that councils currently have £16.1bn of their workers’ pensions invested in oil, gas and coal companies. This represents 5.5 percent of their total investments, worth £287.9bn.

While the value of these investments has increased since 2015 (when the market value represented £14bn), the proportion of the pension funds invested in fossil fuels has stayed about the same.

Mapped: Here’s How Many PR Companies Lobby for Fossil Fuels in the UK

Read time: 5 mins

There are nearly two dozen PR companies representing various fossil fuel and energy companies in Britain according to a new DeSmog UK analysis.

Examining the most recent PR and lobby registry files up to May 2017 shows the scale of the industry’s efforts to influence opinion and policy through the many companies hired to represent corporate interests to both the public and to government.

As DeSmog UK’s map of this network reveals, global public relations firm Hill + Knowlton Strategies is the largest fossil fuel representative, counting oil giants Shell, Total and Statoil as well as fracking companies Cuadrilla, Ineos and IGas among its clients.

Emissions From Fossil Fuel Projects Already Underway Will Take us Beyond the Paris Climate Target, Report Warns

Read time: 3 mins
Oil field in the sunset

Future carbon emissions to be released from our already 'unlocked' fossil fuel reserves alone would take us beyond the 2°C warming threshold, research by Oil Change International (OCI) has found.

Carbon Tracker Analysis: ‘Renewables are Already Outcompeting Fossil Fuels’

Read time: 3 mins
Solar power farm

Clean technologies are already cheaper, on average, than the incumbent fossil fuel technologies, and the advantage is widening, argued Anthony Hobley, chief executive of Carbon Tracker.

Renewables are already outcompeting fossil fuels,” Hobley told an audience of investors, asset management firms, energy analysts, climate experts, fossil-fuel sector and policy makers on 14 September in London.

This is not based on an assumption of government intervention or imposition of a two degree pathway, or of a high carbon price,” he said. “This is based on the world as it is with no additional climate policy or regulation.”

New Green Party Leaders Make ‘Solid Commitment to Leaving Fossil Fuels Where They Belong’ in Inaugural Speech

Read time: 3 mins
Green Party Leaders Caroline Lucas and Jonathan Bartley

The “accelerating climate crisis” is the “greatest threat to our security today” warned Caroline Lucas, the newly elected co-leader of the Green Party, on Friday.

Speaking at the autumn party conference, she said in times that are “the hottest ever on record and when half the Arctic Sea ice has disappeared”, we need “immediate investment in a green and prosperous energy future”.

And, conference, that also means a solid commitment to leaving fossil fuels where they belong – firmly and safely in the ground.”

The MP for Brighton Pavilion also called for “No fracking, no nuclear, no…”. The rest of her sentence was drowned out by the bellow of applause.

Pages

Subscribe to fossil fuels