{"id":575,"date":"2020-09-23T22:30:31","date_gmt":"2020-09-23T22:30:31","guid":{"rendered":"http:\/\/eos.co.id\/main\/?p=575"},"modified":"2020-09-23T22:30:39","modified_gmt":"2020-09-23T22:30:39","slug":"spoiler-alert-big-oil-companies-are-still-failing-on-climate","status":"publish","type":"post","link":"https:\/\/eos.co.id\/main\/uncategorized\/spoiler-alert-big-oil-companies-are-still-failing-on-climate\/","title":{"rendered":"Spoiler alert: Big oil companies are still failing on climate"},"content":{"rendered":"\n

SEPTEMBER 23, 2020BY KELLY TROUT<\/a>BLOG POST<\/a>, ENERGY TRANSITIONS & FUTURES<\/a>, NEWS<\/a><\/p>\n\n\n\n

Over the past year, big oil and gas companies have seen their social license and financial bottom lines face unprecedented threats. With climate disaster after climate disaster<\/a> devastating communities across the globe and oil markets crashing<\/a> in the wake of the COVID-19 pandemic, these companies have faced growing pressure \u2013 from frontline communities and Indigenous Peoples, shareholder activists and major investors, policy experts and city leaders \u2013 to take responsibility for the climate wreckage they are causing and change course.<\/p>\n\n\n\n

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In response, major oil and gas companies have released a slew of new commitments outlining their climate \u201cambitions\u201d and pledges to become \u201cnet zero\u201d carbon companies, all signs that the pressure is having an effect. But these oil company pledges and promises cannot be taken at face value.<\/p>\n\n\n\n

That\u2019s why today, Oil Change International, in collaboration with 30 other organisations, released a new assessment<\/a> of the latest climate pledges from BP, Chevron, Eni, Equinor, ExxonMobil, Repsol, Shell, and Total. In the briefing, called Big Oil Reality Check<\/em><\/a>, we focus on how these companies\u2019 plans stack up against the bare minimum of what\u2019s needed to limit global warming to 1.5 degrees Celsius (\u00b0C).<\/p>\n\n\n\n

As one might expect from corporations notorious for decades of climate deception<\/a>, on the whole, these plans use fancy terminology and convoluted metrics to cover up still grossly inadequate levels of action. Granted, some companies are doing more than others (e.g., Exxon<\/strong> and Chevron<\/strong> really are the worst). But being a \u201cleader\u201d among laggards doesn\u2019t cut it when we\u2019re in a climate emergency \u2013 a crisis that the oil and gas industry has done the most to cause<\/a>.<\/p>\n\n\n\n

What are the baselines?<\/h3>\n\n\n\n

The table below shows our assessment of each company across ten criteria. We regard these as minimum<\/em> baselines for an oil company to have the possibility of being aligned with the Paris Agreement goal to limit warming to 1.5\u00b0C. In other words, these are bottom lines, not gold standards.<\/p>\n\n\n\n

Each of the eight major companies assessed scores grossly insufficient or insufficient in a majority of criteria:<\/strong><\/p>\n\n\n\n

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This sea of red and orange squares above tells a very different story compared to the bold-sounding claims of the companies. That\u2019s because we are working from what success in keeping global temperature rise below 1.5\u00b0C would practically entail.<\/p>\n\n\n\n

We focus on tests of near-term ambition \u2013 commitments to stop exploration, stop developing new extraction projects, and to significantly decline total oil and gas production between now and 2030 \u2013 because they tell us a lot more about the seriousness of these companies\u2019 pledges compared to vague promises of what they will do by 2050.<\/p>\n\n\n\n

In particular, we keep these realities at the forefront:<\/p>\n\n\n\n