The UK Government's windfall tax on oil companies, announced yesterday, will actually incentivise oil and gas drilling and "wreck" the UK's climate targets.
Today is Shell’s AGM, where the company will try and spin to its shareholders and the wider public that it is leading the climate fight and race to net zero. But its all a climate charade. Its all a lie.
The COP Presidency, the UK, is set to approve dozens of new oil and gas fields. Today is a day of action to stop one new field, called Jackdaw. As I write, Stop Jackdaw is trending on Twitter. So if you want to help push for real climate action, please get on the social media platform and start tweeting.
In light of the war in Ukraine, shareholder actions on climate against Big Oil are faltering. One activist investors says: “The oil industry is really using the energy crisis as an excuse now to stall climate action.”
Leading climate scientists have revealed that there is a “very strong likelihood” that one of the next five years will be the warmest on record and that the chance of at least one of the next five year’s exceeding 1.5°C is rapidly increasing.
With the war in Ukraine dragging on into its second month, there is a relentless depressing news cycle. But as war dominates, other issues slip from the news agenda.