Oil Giant BP has announced that it would imagine its goal to enhance renewable energy sources and will focus on dirty fuel instead.
What is happening?
BP previously aims to generate 20 times of renewable energy by 2030, but CEO Murray Auchincloss abandoned this goal, According to Reuters In late February. BP Absolute The “Reinamement Strategy” on February 26, which included investment in oil and gas and low energy investment “transition”.
Because of the investor concerns, the company has already abandoned its goal to reduce oil and gas production by 2030, for every Reuters. To lower debts and increase revenues, BP will also reduce other low -carbon investments.
Why is it important for companies to reduce carbon emissions?
Critics have accused oil and gas companies frequently Green washBut it seems that the new tactic is to give up every claim that these companies are trying to be more sustainable. BP is not the only dirty power company that goes on its promises. For example, Shell made profits of about $ 14 billion for the first half of 2024 after weakening her climatic pledges.
In the end, when companies give priority to profits – whether they depend on toxic “chemicals”, allowing the removal of forests, or trying to circumvent air pollution regulations – people suffer. As for oil and gas companies, pollution from dirty fuel is linked to millions of annual early deaths.
Because of its size, major companies can play an inconsistent role in the negative impact on global health. Moreover, while BP has not provided names for the investors concerned to Reuters, the average billionaire emites carbon pollution by a million times more than one person of 90 % of the world’s population, according to one evaluation. Moreover, another study estimated that the richest 10 % of Americans are responsible for 40 % of the country’s besieged air pollution.
What is being done to hold the oil giants accountable?
The huge officer accountability key is to target their primary interest-their profits.
Previously, the giant Suncor Energy giant for gas and oil agreed to pay a $ 10.5 million settlement to the Ministry of Public Health and Environment in Colorado. A separate lawsuit in Chicago named BP, Chevron, Conocophillips, Exxon Mobil, Phillips 66 and Shell. Even the Supreme Court prevented the tactics of oil companies to delay the lawsuits.
Join the free newsletter Good news and Useful tipsAnd do not miss This wonderful list In easy ways to help yourself with the help of the planet.