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The original was posted on /r/worldnews by /u/Lunavenandi on 2024-05-21 15:22:01+00:00.
Top oil firms’ climate pledges failing on almost every metric, report finds
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
The research and advocacy group Oil Change International examined climate plans from the eight largest US- and European-based international oil and gas producers – BP, Chevron, ConocoPhillips, Eni, Equinor, ExxonMobil, Shell and TotalEnergies – and found none were compatible with limiting global warming to 1.5C above pre-industrial levels – a threshold scientists have long warned could have dire consequences if breached.
The authors also found that the companies’ current oil and gas extraction plans could lead to more than 2.4C of global temperature rise, which would probably usher in climate devastation.
When it comes to ambition, the report found that none of the eight companies have plans to stop fossil fuel exploration or halt the approval or new extraction projects.
Curtis Smith, a spokesperson for Shell, said the company did not “not recognize the conclusions of this report”, asserting that it plans to reach net zero by 2050 and has been slashing its direct emissions.
Since the first edition of the report in 2020, many oil companies have rolled back climate pledges amid spiking fossil fuel prices.
It follows a March report from the thinktank Carbon Tracker, which found none of the world’s 25 largest fossil fuel companies’ production and transition plans align with the central goal of the 2015 Paris climate agreement.
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