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As if anyone's surprised .... read all about it in the Guardian

The clean energy claims of BP, Chevron, ExxonMobil and Shell: A mismatch between discourse, actions and investments

Read the original research here 

A precis version .....

 

The long and the short of it is that if we're to stand a hope in hell of keeping anywhere near 1.5° (or under 2°) we have to absolutely 100% stop digging up more. fossil fuels and very quickly stop burning the ones we already have. Simple really - but the oil companies either don't believe that, think they can somehow sidestep it or think some technological fix will appear out of nowhere. 

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TO DRILL OR NOT TO DRILL: Surging oil prices will test the resolve of companies to cut back on drilling .... Read all about it here

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"CLIMATE CHANGE:

We believe that climate change risks warrant action and it’s going to take all of us — business, governments and consumers — to make meaningful progress."

Have a look at their sustainability pages and wonder ... what are they really doing !

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Pollution

Saudi Armco's claims:

 

We embrace our role to find carbon management solutions

Such as the Circular Carbon Economy

to provide the direction for a sustainable future

powering a more sustainable future

Aramco is the state-owned Saudi Arabian oil and gas company. Aramco is the world’s largest corporate greenhouse gas emitter. It is estimated to be responsible for over 4% of the entire world’s GHG emissions since 1965. Aramco’s 98.5% owner, the Saudi Arabian government, has a long history of fighting efforts to tackle climate change.

The company is led by CEO Amin bin Hasan Al-Nasser and in 2020 Forbes reported its sales at $329.8 billion. In 2019, 1.5% of Aramco was listed on the Saudi Arabian stock exchange, raising $25.6 billion,and valuing the company as worth about $1.7 trillion - the largest company in the world.

It was estimated in 2019 that Saudi Aramco plans to produce and sell the equivalent of 27 billion tonnes of carbon dioxide between 2018 and 2030. This is an enormous amount, equivalent to 4.7% of the total “carbon budget” that the IPCC estimated the entire world had left in 2018 for a 50% chance of meeting the Paris Agreement’s 1.5°C goal. According to the IPCC, a 66% chance requires shrinking the global carbon budget by almost 30%.

More detail and the rest of the sorry story have a look at Client Earth's Greenwashing Files

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Pollution

@BorisJohnson said the UK would "lead the way" on climate change as we prepare to host global climate talks, COP26.

So why did he sign off new oil and gas licences in the North Sea recently? (March '21). Read more here

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Pollution
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BP's Hamble-le-Rice terminal has been blocked by Extinction Rebellion protesters in a demonstration against greenwashing. 

The bar is set pretty low for Oil and Gas companies - along with their products they pump out an astonishing series of misinformation and lies about what they have been doing, and what they continue to do. If you read the sustainability statements on their website you might thing they were cleaner than clean - no obvious claims about increasing shareholder value .... and yet ....

Extinction Rebellion has today said enough is enough . In blocking the BP terminal they said it was protesting about what it called industry greenwashing – misleading people into thinking oil and gas was environmentally sound.

The group called on the UK industry regulator, the Oil & Gas Authority (OGA), to end its policy on Maximum Economic Recovery of oil and gas. It also said the OGA should stop issuing new exploration and production licences.

The upcoming G7 talks in Cornwall later this month should agree to replace fossil fuel extraction with a transition that protects the world’s most vulnerable people, the group added.

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Pollution

Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced today the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada’s oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations. Read more here

Too little too late - Reading the energy companies statements you could almost start to feel that they meant it. 

But ... Carbon Net Zero is a seriously compromised strategy and it would certainly be interesting to know more about what they are actually up to.  Are they, for example, continuing to produce heavily polluting Tar Sands Oil and invest in a forest somewhere else in the world?

Read this report from Friends of the Earth and others which highlights the nonsense and unbelievable Greenwash coming from these people.

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Smoke
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"ExxonMobil is committed to operating our businesses in a responsible and sustainable manner, supplying high-quality products while working to minimize environmental impacts and climate change risks.

Few would disagree that one of the most urgent societal challenges we face today is addressing the risks of climate change. How we meet the world’s demand for the energy necessary for economic growth while mitigating the long-term impact on our environment is key to our sustainable future."

Darren Woods, Chairman and CEO ExxonMobil UK says:

Activists praised ExxonMobil's shift in tone, which showed the company no longer seeks long-term oil and gas production growth and said it would use any extra cash to reduce debt rather than boost drilling. But critics noted the plan falls short of European rivals such as Royal Dutch Shell and Total, which have set targets to reach net-zero carbon emissions and invested in renewable energy.

ExxonMobil's plan "risks continued long-term value destruction," said Engine No.1, an activist investor group that focuses on climate change, has nominated four directors to the company's board.

At the heart of the company's emerging climate strategy is CCS, which captures emissions from industrial sources including refineries and chemical plants and injects them deep into geologic formations for permanent storage. ExxonMobil has planned $3 billion in new CCS investments over the next five years.

But its plans also include a 2021 capital budget of between $16 and $19 billion, with heavy oil and gas upstream investments in the US Permian Basin, as well as in Guyana and Brazil.

finance/yahoo.      Chairman's letter

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Smoke

An astonishing global shift is under way: 127 countries have now stated that by mid-century their overall emissions of carbon dioxide will be zero. That includes the EU, US, and UK by 2050 – and China by 2060. Companies are enthusiastically signing up to similar “net zero” goals.

Mark Carney, the ex-governor of the Bank of England and climate adviser to Boris Johnson, recently described his $600bn Brookfield Asset Management portfolio as “carbon neutral”, despite investing in fossil fuels. Carney said: “The reason we’re net zero is that we have this enormous renewables business.” He went on to claim that renewables avoid carbon emissions that would otherwise have happened, so they “offset” his investments in fossil fuels. This is not net zero. It is an accounting trick. Emitting carbon at the same time as building solar capability does not equal zero emissions overall. Offsetting needs to be used to remove carbon dioxide from the atmosphere, to counter difficult-to-remove emissions, and not just be an enabler of business-as-nearly-usual. Read more here

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Private Aircraft

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Mike Wirth, CEO Chevron

We all have a role to play in creating a cleaner future. At Chevron, we’re lowering the carbon emissions intensity of our operations, investing in lower-carbon technologies and exploring renewable fuels of the future. Learn more: http://chevron.com/lowercarbon #HumanEnergy

Chevron Corp. is misleading consumers about its efforts to reduce greenhouse gas emissions, environmental groups said in what they described as a first-of-its-kind complaint filed with the Federal Trade Commission. Chevron’s pledge of “ever-cleaner energy” amounts to so-called greenwashing because it hides the reality that the company’s production plans may end up increasing absolute emissions, according to Global WitnessGreenpeace USA and Earthworks. Ads touting the oil giant’s environmental record and investments in clean tech disguise its role as one of the world’s biggest corporate polluters, the nonprofit groups say. The complaint comes just days after Chevron announced a strategy centered on “higher returns, lower carbon.”

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