Big Oil – EV Trend

Michael Holder, Business Green ::

Such a prospect may be difficult to imagine right now, given the record profits being funnelled into the pockets of companies such as ExxonMobil, BP, Shell, and Centrica. A cursory look at your energy bill or the latest global greenhouse gas emissions stats is enough to make one wince at the firm grip fossil fuels still appear to have on all aspects of the global economy.

But growing numbers of respected energy policy wonks have been taking a peek under the bonnet of the global energy system, and finding cause for cautious optimism that – even if it is not happening at the speed global climate goals require – the decarbonisation of the global economy may start far sooner than many realise.

Governments have been under pressure to exclude fossil fuel companies from COP. For decades the influence of the big polluters haves weakened climate polity and agreements. The exclusion may not signal the end for big oil companies, but it’s a huge step in that direction.

Matthew Taylor, The Guardian »

Private emails from civil servants in the Cop unit, seen by the Guardian, show doubts about one oil major’s net zero plans, with an official saying BP “[does] not currently fit our success criteria for Cop26” and another noting “it’s unclear whether [its net zero] commitments stack up yet”.

Last year the Guardian revealed that fossil fuel firms had held a series of private meetings with UK officials in an attempt to be part of Cop26. Documents revealed that some of the world’s biggest polluters had been lobbying the government, offering money in return for exposure at the event and in one case saying they could act as an intermediary between UK officials and other governments.

But now, in what campaigners say is a big win for climate activism, the UK’s Cop unit has confirmed that no fossil fuel majors will have a formal role.

Tag: Big Oil

Is the dominance of fossil fuels across the global economy finally starting to wane?

Fossil fuel firms will have no official role in the COP26 climate summit

Governments have been under pressure to exclude fossil fuel companies from COP. For decades the influence of the big polluters haves weakened climate polity and agreements. The exclusion may not signal the end for big oil companies, but it’s a huge step in that direction.