Climate warning
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Climate warning

and other big oil companies quietly walking back on their climate pledges

It was probably the Earth’s hottest week in history earlier this month, following the warmest June on record, and top scientists agree that the planet will get even hotter unless we phase out fossil fuels. At the same time, ExxonMobil quietly withdrew funding for a heavily publicized effort to use algae to create low-carbon fuel; at the same time, Exxon’s CEO, Darren Woods, told an industry conference last month that his company plans to double the amount of oil produced from its US shale holdings within the next five years.
Hopeless isn't it ?
And they are not alone unfortunately, you find all the usual suspects : BP scaled back an earlier goal of lowering its emissions by 35% by 2030, saying it will aim for a 20/30% cut instead; Shell announced that it would not increase its investments in renewable energy this year, despite earlier promises to dramatically slash its emissions. Last Thursday – just after Earth broke an unofficial record for its hottest day ever for the third day in a row – the Total Energies CEO, Patrick Pouyanne said that his company will continue to pour the majority of its investments into fossil fuels.
It is obvious that leading energy companies are motivated not by record warming, but by record profits and are intent on pushing the world in the opposite direction by expanding fossil fuel production and insisting that there is no alternative.
“The fossil fuel industry has massively profited from selling a dangerous product and now innocent people and governments across the globe are paying the price for their recklessness,” Naomi Oreskes, a history of science professor at Harvard University who studies the oil industry, said.
Dan Cohn, global energy transition researcher at the Institute for Energy Economics and Financial Analysis, said that the oil industry’s climate pledges became popular while fossil fuels were becoming less profitable, but since the Russian invasion of Ukraine, gas prices have risen and fossil fuel companies saw record profits last year. “They have left no doubt that their pledges were deployed for cynical political purposes, only to be ditched when they no longer suited the industry’s strategic position,” he said.
That strategic position was to avoid being governed, said Timmons Roberts, professor of environment and sociology at Brown University.“ The climate commitments … were almost certainly made to give the impression that they don’t need to be regulated because their voluntary pledges are adequate,” he said.

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  • Videlis Eddie

    46 w

    This is heartbreaking....they are selfish and thinking of the profits only

    • George Kariuki

      47 w

      Collaboration between all stakeholders is essential to drive meaningful change and address the urgent climate challenges we face.

      • Sarah Chabane

        47 w

        It does feel pretty hopeless...

        • We Don't Have Time

          47 w

          Dear Jacqueline Marchelli Your climate warning has received over 50 agrees! We have reached out to Exxon by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

          • Elizabeth Gathigia

            47 w

            They are so selfish and greedy! They only care about the profit

            • rosebellendiritu

              47 w

              @elizbeth_gathigia this has always been the case which is bad

            • winnie nguru

              47 w

              Just when the earth is the hottest it has ever been? This is unacceptable

              • Thomas Tienso

                47 w

                This is no longer acceptable. Shame on the owners. They must realize what they are causing. The world is breaking temperature records like never before.

                • Ajema Lydiah

                  47 w

                  @thomas_tienso true

                  • Sarah Chabane

                    47 w

                    @thomas_tienso I am pretty sure they understand, they just don't care

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