"For climate campaigners, 26 May seemed like the start of a long-awaited
reckoning for oil and gas companies.
Over a single 24-hour period, a Dutch court ordered Shell to dramatically cut
emissions, shareholders voted to force Chevron to reduce emissions from the
products it sells, and a tiny activist investment firm secured three positions
on ExxonMobil’s 12-member board for candidates committed to climate action.
When trying to ascribe responsibility for the climate crisis, it’s hard to
overstate the outsized role fossil fuel companies have played. The products of
just 100 private and state-owned fossil fuel companies were linked to 71% of
global industrial greenhouse gas emissions since 1988, according to a
groundbreaking 2017 report.
A subsequent Guardian investigation in 2019 found 20 fossil fuel companies,
including Chevron and ExxonMobil, were responsible for more than one-third of
all greenhouse gas emissions since 1965 – the point at which experts say fossil
fuel companies were aware of the link between their products and climate
But it’s not just fossil fuel companies fueling the climate crisis. Even if we
immediately phased out oil and gas, emissions from agriculture alone may make
it impossible to limit warming to the 1.5C goal in the Paris agreement.
Across a slew of sectors from food and fast fashion to construction and heavy
industry, companies have helped drive climate chaos. As climate impacts
accelerate – the world is boiling, burning, flooding and melting – there is
unprecedented pressure on all companies to start taking their own role in the
crisis far more seriously.
This pressure is translating into action. A record number of companies are
making climate pledges, but experts warn the pace of action remains glacially
slow in the face of a barreling climate crisis."
Via Robert Sanscartier.
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics