[Fossil Fuel Treaty] Oil Companies and Net Zero Oped in Guardian

Jay Owen Reforming Global Finance, Global Citizen, Resource Efficiency, Beyond GDP, Latest Headlines

“Ethical Markets highly recommends this article by Tzeporah Berman of the Fossil Fuel Treaty initiative, which we fully support, in the Guardian.

~Hazel Henderson, Editor“

 

Global oil companies have committed to ‘net zero’ emissions. It’s a sham

Tzeporah Berman and Nathan Taft

The energy industry is like a smoker who goes from one pack a day to two – but claims they’re quitting because they switched to filtered cigarettes

 

A natural gas refinery in Belarus. Photograph: Vasily Fedosenko/Reuters

Wed 3 Mar 2021 06.30 EST

 

The United Nations campaign Race to Zero recently published a paper identifying 20 pathways to reach net zero carbon emissions. In December, the British Oil & Gas Authority published a requirement that oil and gas development be “consistent with net zero” (despite approval of new offshore permits). BP, Shell and other multinational companies have all now published their “net zero” pathways.

The world finally seems to be aligning around the idea that to have a stable and safe planet we need to reach net zero emissions. That’s fantastic, and overdue. What’s less fantastic is that many companies and countries are using “net zero” to justify expanding the production of fossil fuels. This is something people living near fossil fuel infrastructure – and our global climate – simply can’t afford.

 

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