Royal Dutch Shell

Shareholders Demand Stronger Climate Commitment From Oil Giant Shell

I do believe in 2 degrees, but I do not believe I can do it on my own”. The words that Shell’s chief executive Ben van Beurden used at Tuesday’s annual shareholder meeting mirror the company’s ‘could do, won’t do’ attitude to limiting global warming.

Shell’s chairman Charles Holliday described their management of the energy transition after the Paris climate change conference as “so far so good” despite a page one disclaimer in their latest report saying they have no plans to use their pathway to net zero in their next 10-20 year investment horizon.

As van Beurden said in response to a shareholder question: “My expectation that oil will be phased out in 2070 is actually quite arbitrary” going on to say oil and gas could still be relevant until 2100.

All Vision and No Strategy? Shell Says No Thanks to a Better Life with a Healthy Planet

Next week will see three oil giants answer to their shareholders at their Annual General Meetings. And while Chevron and Exxon will likely feel the heat from the recent climate denial investigations, Shell has been quietly trying to lay the foundation to show its taking climate change seriously. But just how committed is Shell to the Paris climate targets? Juliet Phillips, campaign manager at responsible investment charity ShareAction, takes a look.

In the lead up to Shell's annual general shareholder meeting tomorrow, the oil major quietly slipped out a new report entitled ‘A better life with a healthy planet’ two weeks ago, laying down a potential pathway for limiting temperature rises to under 2°C.

Within this unprecedented report, Shell seemed to describe a future where its current business model would be irrelevant – albeit it on an uncertain deadline.

Shell Oil Spill Cleanup Operation Ends As Voices Against New Gulf Drilling Grow Louder

Five days after Royal Dutch Shell reported an estimated 88,000 gallon crude oil leak in the Gulf of Mexico from its operations in the Glider field, the oil company and the U.S. Coast Guard agreed to halt skimming operations used in the cleanup because they were no longer finding recoverable oil. 

Both entities stated that no environmental damage has been reported, but independent monitors from Greenpeace, Vanishing Earth and Wings Of Care question whether the size and potential impact of the spill are being downplayed. 

News of Shell’s oil spill 90 miles south of Louisiana’s Timbalier Island came the day before the Bureau of Ocean Energy Management (BOEM) hosted a final week of public meetings on the Gulf Coast to give the public a chance to comment on its Five Year Plan 2017-2022 oil leasing program. Its plan calls for lease sales of 47 million acres of the Gulf of Mexico to oil and gas companies for offshore drilling on the Outer Continental Shelf. 

Oil Giants Spend $114m to Obstruct Climate Policy, But That’s Just the ‘Tip of the Iceberg’

Despite the recent Paris Agreement on global warming, the fossil fuel industry is still systematically trying to stall progress, and using shareholder funds to do so,” warns a new report by London non-profit organisation InfluenceMap.

According to InfluenceMap’s research, last year international oil giants ExxonMobil and Shell, along with three powerful industry trade associations, spent US$114 million (£80.8m) in an effort to obstruct climate legislation.

These millions were spent on a range of activities including PR, social media, advertising, and lobbying, in order to influence American and European policy makers and manipulate public discourse on climate change.

Big Oil Hosts Conference to Promote Deepwater Drilling Despite High Costs and Paris Climate Deal

Oil and gas industry giants gathered this week in Pau, an historic city in southwest France, to discuss the future of deepwater drilling.

Over the course of the three-day MCE Deepwater Development (MCEDD) conference hosted by Total and sponsored by Shell, hundreds of industry professionals focused on how to cut costs during a time of record-low oil prices.

As Total described in a letter announcing the annual conference: “Our common objective is to reduce costs significantly in order for deepwater to remain competitive.”  

During Paris Climate Summit, Obama Signed Exxon-, Koch-Backed Bill Expediting Pipeline Permits

Just over a week before the U.S. signed the Paris climate agreement at the conclusion of the COP21 United Nations summit, President Barack Obama signed a bill into law with a provision that expedites permitting of oil and gas pipelines in the United States.

The legal and conceptual framework for the fast-tracking provision on pipeline permitting arose during the fight over TransCanada's Keystone XL tar sands pipeline. President Barack Obama initially codified that concept via Executive Order 13604 — signed the same day as he signed an Executive Order to fast-track construction of Keystone XL's southern leg — and this provision “builds on the permit streamlining project launched by” Obama according to corporate law firm Holland & Knight.

Meet the Lobbyists and Big Money Interests Pushing to End the Oil Exports Ban

The ongoing push to lift the ban on exports of U.S.-produced crude oil appears to be coming to a close, with Congress introducing a budget deal with a provision to end the decades-old embargo

Just as the turn from 2014 to 2015 saw the Obama Administration allow oil condensate exports, it appears that history may repeat itself this year for crude oil. Industry lobbyists, a review of lobbying disclosure records by DeSmog reveals, have worked overtime to pressure Washington to end the 40-year export ban — which will create a global warming pollution spree.

Fossil Fuel Companies Dominate EU Meetings on Climate and Energy Policy, Report Shows

Big energy and fossil fuel companies are enjoying privileged access to the EU’s top climate policy decision makers in the run-up to December’s Paris climate conference a new report reveals.

The report by transparency research and campaign group Corporate Europe Observatory (CEO) looks at all meetings held by Commissioners Miguel Arias Cañete and Maros Šefčovič during their first year in office. In total, energy companies make up 30 per cent of all lobby encounters with the commissioners and their cabinets.

When it comes to discussing climate and energy policy, three-quarters of the European Commission’s encounters with the energy industry were with fossil fuel companies including BP, Statoil, and Shell.

Are Oil Giants Backing a Climate Solution That Will Never Happen?

Oil and gas giants are betting the shop on a carbon price being implemented in order to tackle climate change. But experts speaking at today's Economist Energy Summit in London agreed that an effective global carbon price just isn’t going to happen.

Last month ten major fossil fuel companies, including Shell, Total, BP, and Statoil, announced a joint climate declaration recognising the need to limit the global average temperature rise to 2C. In order to achieve this, a “widespread and effective pricing of carbon emissions” is needed alongside more gas and renewables, they argued.

But as Henry Tricks, energy and commodities editor at the Economist, put to executives at BP, Statoil and Total: “You’re all basing a lot of your future scenarios on the idea that there will be a carbon price. You’re calling for it, and yet most people don’t agree that it’s going to happen on a global scale. What is needed for it to happen?”

Worries Build Among Investors Over Oil and Gas Industry’s Exposure to Water and Climate Risks

When it comes to financial risks surrounding water, there is one industry that, according to a new report, is both among the most exposed to these risks and the least transparent to investors about them: the oil and gas industry.

This year, 1,073 of the world’s largest publicly listed companies faced requests from institutional investors concerned about the companies’ vulnerability to water-related risks that they disclose their plans for adapting and responding to issues like drought or water shortages.

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