Tag: fossil fuels

  • ‘The Writing Is on the Wall for Fossil Fuels’: Activist Investors Sue Shell Board Over Climate Failures

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    Just Stop Oil protesting in London 6 December 2022.
    Just Stop Oil protesting in London 6 December 2022.

    \Original article by JAKE JOHNSON Feb 09, 2023 republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

    “The shift to a low-carbon economy is not just inevitable, it’s already happening. Yet the board is persisting with a transition strategy that is fundamentally flawed.”

    A group of activist investors sued Shell’s board of directors on Wednesday for failing to “deliver the reduction in emissions that is needed to keep global climate goals within reach.”

    ClientEarth, an environmental law charity and institutional investor in Shell, described the case as the first time a company board is facing a shareholder lawsuit for inadequately preparing to transition away from fossil fuels.

    “Shell may be making record profits now due to the turmoil of the global energy market, but the writing is on the wall for fossil fuels long term,” Paul Benson, a senior lawyer at ClientEarth, said in a statement. “The shift to a low-carbon economy is not just inevitable, it’s already happening. Yet the board is persisting with a transition strategy that is fundamentally flawed, leaving the company seriously exposed to the risks that climate change poses to Shell’s future success—despite the board’s legal duty to manage those risks.”

    The lawsuit, which is backed by large institutional investors that collectively hold 12 million shares of Shell, alleges that the oil giant’s 11 directors are violating the Companies Act, a U.K. law that requires corporate boards to “promote the success” of the business.

    By failing to sufficiently manage climate risks and implement “an energy transition strategy that aligns with the Paris Agreement,” Shell is flouting its legal obligations, the lawsuit contends.

    “Shell’s Board on the other hand maintains that its ‘Energy Transition Strategy’—including its plan to be a net-zero emissions business by 2050—is consistent with the 1.5°C temperature goal of the Paris Agreement,” ClientEarth notes. “It also claims that its plan to halve emissions from its global operations by 2030 is ‘industry-leading,’ however this covers less than 10% of its overall emissions.”

    “It is in the best interests of the company, its employees, and its shareholders—as well as the planet—for Shell to reduce its emissions harder and faster than the board is currently planning.”

    ClientEarth and its backers are asking the High Court of Justice in London to force Shell’s board to “adopt a strategy to manage climate risk in line with its duties under the Companies Act” and in compliance with a 2021 Dutch court ruling ordering the oil giant to cut its total carbon emissions by 45% by 2030.

    “Long term, it is in the best interests of the company, its employees, and its shareholders—as well as the planet—for Shell to reduce its emissions harder and faster than the board is currently planning,” Benson said.

    Jacqueline Amy Jackson, the head of responsible investment at London CIV—one of the institutional backers of ClientEarth’s lawsuit—said that “we do not believe the board has adopted a reasonable or effective strategy to manage the risks associated with climate change affecting Shell.”

    “In our view,” Jackson added, “a board of directors of a high-emitting company has a fiduciary duty to manage climate risk, and in so doing, consider the impacts of its decisions on climate change, and to reduce its contribution to it.”

    Shell said in response that ClientEarth’s suit “has no merit.”

    ClientEarth filed its complaint a week after Shell announced that its profits doubled in 2022, surging to a record $40 billion as households across Europe and around the world struggled with high energy costs. The company said it returned $26 billion to shareholders last year through dividends and stock buybacks.

    Earlier this month, the advocacy group Global Witness filed a complaint with the U.S. Securities and Exchange Commission accusing Shell of “lumping together some of its gas-related investments with its spending on renewables to inflate its overall investment in renewable sources of energy,” misleading investors and authorities.

    “Shell’s so-called renewable and energy solutions category is pure fiction,” said Zorka Milin, a senior adviser at Global Witness. “The company is living in fantasy land if it thinks fossil gas has any place in the much-needed energy transition. Shell’s business model has always been, and continues to be, overwhelmingly based on climate-polluting fossil fuels.”

    Shell is also facing lawsuits from nearly 14,000 Nigerians whose communities have been devastated by the company’s pollution and oil spills.

    \Original article by JAKE JOHNSON Feb 09, 2023 republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

  • Lutzerath: Why are people protesting at coal village where Greta Thunberg was detained?

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    https://www.independent.co.uk/climate-change/news/greta-thunberg-germany-coal-lutzerath-b2263939.html

    Coal mine expansion has long been flashpoint for tensions over Germany’s energy policies

    News of climate activist Greta Thunberg’s detention by police near the German village of Lutzerath has drawn further attention to controversial plans for a coal mine’s expansion, which she has labelled a “betrayal” by the government.

    While perhaps the most recognisable, the Swedish campaigner is among thousands of people who have been compelled to take part in demonstrations at the North Rhine-Westphalia village in recent years, which has become a flashpoint for German climate activists seeking an end to fossil fuels.

    …

    [A]ctivists argue that fossil fuels must remain in the ground to avert climate breakdown. Addressing some 6,000 protesters marching on Lutzerath on Saturday, Ms Thunberg called the mine’s expansion a “betrayal of present and future generations”.

    “Germany is one of the biggest polluters in the world and needs to be held accountable,” she said, adding: “The most affected people are clear, the science is clear, we need to keep the carbon in the ground.

    “When governments and corporations are acting like this, are actively destroying the environment, putting countless of people at risk, the people step up.”

    …

    https://www.independent.co.uk/climate-change/news/greta-thunberg-germany-coal-lutzerath-b2263939.html

  • Climate activists vow to take to streets to stop fossil fuel extraction

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    https://www.theguardian.com/environment/2023/jan/16/climate-activists-vow-to-take-to-the-streets-to-stop-fossil-fuel-extraction

    ‘Cease and desist’ letter signed by over 650,000 people sent to oil and gas CEOs follows removal of Greta Thunberg from coal protest

    Hundreds of thousands of young climate activists have said they will continue “protesting in the streets in huge numbers” against fossil fuels, a day after Greta Thunberg was removed by German police from a condemned village atop a massive coal deposit.

    In a cease-and-desist letter to the CEOs of fossil fuel companies, youth campaigners accuse them of a “direct violation of our human right to a clean, healthy, and sustainable environment, your duties of care, as well as the rights of Indigenous people”.

    “This cease-and-desist notice is to demand that you immediately stop opening any new oil, gas or coal extraction sites, and stop blocking the clean energy transition we all so urgently need,” the letter says.

    …

    The letter warns that failure to act would mean citizens around the world would consider taking “any and all legal action” to hold the companies accountable. “And we will keep protesting in the streets in huge numbers,” it says.

    Signatories included Vanessa Nakate from Uganda, Greta Thunberg from Sweden, Helena Gualinga from Ecuador and Luisa Neubauer from Germany. They say: “It feels extremely difficult to keep hope alive in the face of climate devastation around the world. But our hope lies in people – in the millions of us who are determined to come together and demand action. It’s time to put these CEOs on notice – showing them that 2023 will be a watershed moment for accountability.”

    …

    https://www.theguardian.com/environment/2023/jan/16/climate-activists-vow-to-take-to-the-streets-to-stop-fossil-fuel-extraction

  • ‘Time is Running Out,’ American Petroleum Institute Chief Said in 1965 Speech on Climate Change

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    BySharon Kelly on Nov 20, 2018 @ 15:48 PST

    Original article republished from DeSmog under their republishing agreement.

    The warning is clear and dire — and the source unexpected. “This report unquestionably will fan emotions, raise fears, and bring demand for action,” the president of the American Petroleum Institute (API) told an oil industry conference, as he described research into climate change caused by fossil fuels.

    “The substance of the report is that there is still time to save the world’s peoples from the catastrophic consequence of pollution, but time is running out.”

    The speaker wasn’t Mike Sommers, who was named to helm API this past May. Nor was it Jack Gerard, who served as API’s president for roughly a decade starting in 2008.

    The API president speaking those words was named Frank Ikard — and the year was 1965, over a half-century ago.

    It was the same year that Dr. Martin Luther King Jr. led a civil rights march from Selma to Montgomery, Muhammad Ali felled Sonny Liston in the first round, and Malcom X was fatally shot in New York. The first American ground combat troops arrived in Vietnam and President Lyndon B. Johnson signed the law establishing Medicaid and Medicare.

    It would be another four years before American astronaut Neil Armstrong first set foot on the moon — and another decade before the phrase “global warming” would appear for the first time in a peer-reviewed study.

    And 1965, according to a letter by Stanford historian Benjamin Franta published this week in the peer-reviewed journal Nature, was the year that President Johnson’s Science Advisory Committee published a report titled “Restoring the Quality of Our Environment,” whose findings Ikard described at that year’s annual API meeting.

    “One of the most important predictions of the report is that carbon dioxide is being added to the Earth’s atmosphere by the burning of coal, oil, and natural gas at such a rate that by the year 2000 the heat balance will be so modified as possibly to cause marked changes in climate beyond local or even national efforts,” Ikard presciently added, according to excerpts from his speech published in Nature.

    Exerpt of API President Frank Ikard’s 1965 speech on climate change and fossil fuels.

    API Funded Early Research Linking CO2 and Fossil Fuels

    That prediction was based in part on information that was known to the oil industry trade group for over a decade — including research that was directly funded by the API, according to Nature.

    In 1954, a California Institute of Technology geochemist sent the API a research proposal in which they reported that fossil fuels had already caused carbon dioxide (CO2) levels to rise roughly five percent since 1854 — a finding that Nature notes has since proved to be accurate.

    API accepted the proposal and funded that Caltech research, giving the program the name Project 53. Project 53 collected thousands of CO2 measurements — but the results were never published.

    Meanwhile, other researchers were reaching similar conclusions. Nuclear physicist Edward Teller became known in 1951 as the “father of the hydrogen bomb” for designing a thermonuclear bomb that was even more powerful than the atomic bombs dropped in Hiroshima and Nagasaki. Teller warned the oil and gas industry in 1959 about global warming and sea level rise in a talk titled “Energy Patterns of the Future.”

    “Carbon dioxide has a strange property,” Teller said in excerpts published earlier this year by The Guardian. “It transmits visible light but it absorbs the infrared radiation which is emitted from the earth. Its presence in the atmosphere causes a greenhouse effect.”

    A researcher at Humble Oil Co. (now known as ExxonMobil) checked results from a study of carbon isotopes in tree rings against the unpublished Caltech results, and found that the two separate methods essentially agreed.

    This figure shows the history of atmospheric carbon dioxide concentrations as directly measured at Mauna Loa, Hawaii since 1958. This curve is known as the Keeling curve, and is an essential piece of evidence of the man-made increases in greenhouse gases that are believed to be the cause of global warming. Credit: Delorme, data from Dr. Pieter Tans, NOAA, and Dr. Ralph Keeling, Scripps, CC BY–SA 4.0

    And in 1960, Charles Keeling first published the measurements that became the famous “Keeling curve” — establishing one of the bedrock findings connecting climate change to fossil fuels. The CO2 measurements taken by Keeling back in the late 1950s showed levels of roughly 315 parts per million (ppm) at the Mauna Loa Observatory in Hawaii and rising.

    Those CO2 levels have since climbed upwards to 410.13 (ppm) on the day that the Nature letter was published — CO2 levels that scientists knew both then and now would be dangerously high, as carbon levels in the Earth’s atmosphere have not been over 410 ppm in millions of years.

    What the Oil Industry Knew, Then and Now

    In his 1965 talk, the API’s Ikard described the role of oil and gasoline specifically in causing climate change. “The report further states, and I quote: ‘… the pollution from internal combustion engines is so serious, and is growing so fast,’” he told the API conference, “‘that an alternative nonpolluting means of powering automobiles, buses, and trucks is likely to become a national necessity.’”

    Three decades later, the API urged a different approach to climate science. “It’s not known for sure whether (a) climate change actually is occurring, or (b) if it is, whether humans really have any influence on it,” the API wrote in a 1998 draft memo titled “Global Climate Science Communications Plan,” which was subsequently leaked.

    As of publication time, an API spokesperson had not replied to questions sent by DeSmog.

    It’s worth noting that since 1965, the science connecting climate change to fossil fuels has grown stronger and more robust. A scientific consensus around the hazards of climate change and the role that fossil fuels play in causing it has formed.

    “Rigorous analysis of all data and lines of evidence shows that most of the observed global warming over the past 50 years or so cannot be explained by natural causes and instead requires a significant role for the influence of human activities,” the Royal Society explains.

    Today, the API continues to call for further research on climate change — and expanding the use of fossil fuels in the meantime.

    “It is clear that climate change is a serious issue that requires research for solutions and effective policies that allow us to meet our energy needs while protecting the environment: that’s why oil and gas companies are working to reduce their greenhouse gas emissions,” the API’s webpage on climate change states.

    “Yet archival documents show that even before Keeling published his measurements,” Franta’s letter published by Nature says, “oil industry leaders were aware that their products were causing CO2 pollution to accumulate in the planet’s atmosphere, in a potentially dangerous fashion.”Main image: San Diego, CA, October 26, 2007 – A Northern California fire crew works into the night clearing the fire line and monitoring the back burn that was set to stop the Poomacha fire from advancing westward. Credit: Andrea Booher, FEMA, public domain

    Original article republished from DeSmog under their republishing agreement.

  • Climate Crisis Reality Check (2)

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    The Paris Agreement 2015 is the latest international treaty on climate change.
      
    Quoted from wikipedia 
     
    ...
    The Paris Agreement's long-term temperature goal is to keep the rise in mean global temperature to well below 2 °C (3.6 °F) above pre-industrial levels, and preferably limit the increase to 1.5 °C (2.7 °F), recognizing that this would substantially reduce the effects of climate change. Emissions should be reduced as soon as possible and reach net-zero by the middle of the 21st century.[3] To stay below 1.5 °C of global warming, emissions need to be cut by roughly 50% by 2030. This is an aggregate of each country's nationally determined contributions. 
    ...
    According to the 2020 United Nations Environment Programme (UNEP), with the current climate commitments of the Paris Agreement, global mean temperatures will likely rise by more than 3 °C by the end of the 21st century.
    ...
    Countries determine themselves what contributions they should make to achieve the aims of the treaty. As such, these plans are called nationally determined contributions (NDCs).
    ...
    In 2021, a study using a probabilistic model concluded that the rates of emissions reductions would have to increase by 80% beyond NDCs to likely meet the 2 °C upper target of the Paris Agreement, that the probabilities of major emitters meeting their NDCs without such an increase is very low. It estimated that with current trends the probability of staying below 2 °C of warming is 5% – and 26% if NDCs were met and continued post-2030 by all signatories.
    ...
    
    The message from the above quotations is
    1. The Paris Agreement is an attempt to limit climate change effects by keeping global mean (average) temperatures below 1.5C or 2C.
    2. We are likely looking at global temperature rises between 2C and over 3C by the end of the century. 
    
    
    We are currently at 1.1 or 1.2C global mean temperature above pre-industrial levels. There are extreme climate events now never mind at 1.5, 2 or over 3C. 
    
    2022 saw record-breaking heat in UK while there were heatwaves and vast wildfires in North America, record-breaking temperatures and huge wildfires across France and Western Europe, huge drought followed by severe flooding in Pakistan, repeated flooding in Eastern Australia and currently East Africa is suffering the worst drought in decades.  
    
    We are in a climate crisis at 1.2C. The crisis is now. 
    
    The main cause of global warming is the use of fossil fuels. The best response to the climate crisis is to stop the use of fossil fuels as much as we possibly can and to transition to renewable sources of energy instead. This would also involve a programme of insulation to reduce the use of fossil fuels. 
    
    Politicians worldwide are neglecting to address the climate crisis in any meaningful way. The protest group Just Stop Oil is calling for no new development of fossil fuels. Grant Shapps, UK's Secretary of State for Business, Energy and Industrial Strategy is so totally out of touch that he's not even familiar with Just Stop Oil's objectives: “I’ve no issue with people arguing for lower levels of petrol, gas or whatever other thing they want to campaign for usage, that is fine, that is one thing. But don’t go disrupting other people’s lives - it’s unacceptable, it’s illegal!”, the Business Secretary said.  
    
    Young people particularly should get active opposing climate destruction because it's fekking their futures and otherwise they're just going to keep on getting totally disregarded, shat on. Extreme weather events at 1.2C are so serious, 3C may well lead to extinction and next to nothing is being done to prevent it.
    
    Some links - try searching for your own e.g. extreme weather events 2022
    https://en.wikipedia.org/wiki/Paris_Agreement
    Met Office: Unprecedented extreme heatwave (UK), July 2022
    Analysis: Africa’s unreported extreme weather in 2022 and climate change
    Over 20,000 died in western Europe’s summer heatwaves, figures show
    
    16/12/22 Climate Reality Check 2021