Five of the top Big Oil companies in the world were expected to pay shareholders over $100 billion for 2023. The estimated 2023 payouts from BP, Shell, Chevron, ExxonMobil and TotalEnergies were on track to surpass the dividend payments and share buybacks from 2022, which reached $104 billion, according to the Institute for Energy Economics […]
A Norwegian hedge fund worth more than $90 billion has become the first major financial institution to divest from companies that lobby against action on the climate crisis, The Guardian reported Monday.
By Andy Rowel For those fighting the oil industry, the good news keeps on coming this week. The Norwegian company, Equinor, has announced it is abandoning plans to drill for oil in the highly ecologically sensitive, Great Australian Bight, which has been a battleground between conservationists and the industry for years. Off the country’s southern […]
British-based oil and gas giant BP set the most ambitious climate goal of any company in its industry yesterday when it announced that it will eliminate or offset all of its greenhouse gas emissions by 2050, according to The New York Times. Its ambitious plans included offsetting the burning of oil and gas it takes […]
By Brenda Ekwurzel If you look at headlines from the last year, ExxonMobil, Chevron and other major fossil fuel companies have seemingly turned a new page on climate change. Recently, ExxonMobil received major kudos for giving $1 million to Americans for Carbon Dividends, a lobbying offshoot of the industry-backed Climate Leadership Council. Shortly before that, […]
King County, which covers the Seattle metropolitan area, followed the lead of 10 other cities and counties in the U.S. when it filed a lawsuit Wednesday against the world’s five largest oil companies for damages incurred by climate change, a county press release announced. “The science is undisputable: climate change is impacting our region today, […]
This was a big week for the suit brought by San Francisco and Oakland against the five largest investor-owned fossil fuel companies for the costs associated with adapting to climate change. First, the five companies in question—Chevron, ConocoPhillips, ExxonMobil, BP and Royal Dutch Shell—filed a motion Tuesday to dismiss the case, arguing that the U.S. […]
By Ken Kimmell A major front in the climate change debate has moved to the courtroom, as I’ve previously discussed. Last week, plaintiffs in two separate cases won significant procedural victories—one against major fossil fuel companies, and a second against the Trump administration. Here are the latest developments and their implications. Bay Area vs. Big […]
If you turn on the news, you might think that climate science has been on trial for decades. But now a San Francisco judge will give it an official day in court. U.S. District Court Judge William Alsup, who is hearing a suit brought by the cities of Oakland and San Francisco against five big […]