Big Oil’s Climate Plans Fail at Every Metric
Fossil fuel companies are talking a big game about climate policy. This year, BP pledged to cut its fossil fuel investments by 40%, Shell pledged to reach net-zero carbon emissions by 2050, and other oil giants have made similar promises, too. Right now, executives from these firms are bragging about their plans for carbon neutrality to policymakers and other powerful people at New York’s annual Climate Week.
But—surprise!—new research shows that not a single one of these major oil company’s pledges comes close to aligning with leading climate scientists’ recommendations. Who’da thunk?
The analysis, released on Wednesday by Oil Change International with endorsements from 30 climate justice groups, examined eight oil majors’ climate plans. To see if the plans jived with the limit of 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels—a threshold which leading climatologists say would be catastrophic to cross—the authors graded each one based on 10 criteria, ranking the plans on the spectrum from “fully aligned” to “grossly insufficient.”
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