11
aspirational objective that oil, gas, and coal companies take seriously their
obligation to align future production and investments with science-based
targets to not exceed warming of 2ºC. I also cover industry actions and
reactions to the prospect that climate change may affect their business plans,
that their projections of global fossil fuel emissions far exceed the remaining
carbon budget (and therefore a costly transgression of the 2ºC target), their
history of denials to shareholders and the public that climate science is too
unsettled for any policy action,14 and the sobering effects of the proliferating
lawsuits and investigations of the major carbon companies.
Q25: How were you able to arrive at these findings, or what methods were used?
A25: I analyze and cogitate on the work of several dozen colleagues and thinkers
in order to discern the emerging imperative that major carbon producers
have unique responsibilities for creating and perpetuating the climate crisis,
and therefore bear commensurate responsibilities to help solve the crisis that
ignoring the impacts of their products will not absolve them of. I conclude
the survey paper by quoting Henry Shue from his insightful Commentary15
to our paper (Ekwurzel et al. 2017) that:
“Investor-owned companies have long understood the harm of their
products, yet carried out a decades long campaign to sow doubts about
those harms in order to ensure fossil fuels would remain central to global
energy production. Companies knowingly violated the most basic moral
principle of ‘do no harm,’ and now they must remedy the harm they
caused.”
Q26: In light of your years of research and expertise on the subject matter, are
investor-owned carbon producers aligning production and investment with
science-based targets that will ensure the global temperature rise is limited
to safe levels? Please explain.
A26: No. The only carbon producers that are arguably “aligning” their production
with science-based targets are those companies that are in or emerging from
bankruptcy (Arch Coal), forced to divest producing assets (BP), reservoir
depletion (Pemex), or war (Syrian Petroleum). All major carbon producers
are, as far as I can tell, aiming to expand investment in and production of
future supplies to assure steady or growing production. That said, some oil
and gas companies are more responsive to the emerging imperative for
carbon producers to align with the Paris Accord, lead by European
companies, particularly Equinor/Statoil, Royal Dutch Shell, and Total SA.
American, African, Arabian Gulf, and Asian companies are generally
lagging in this regard.16 Note that many companies have committed to
reduce direct operational emissions (Scope 1) through efficiency, methane
leakage prevention, and flaring reduction, but the crucial question is whether
any company has committed to reduce carbon production in line with the
Paris Accord. The answer is “no,” although Royal Dutch Shell made an
important (if incomplete) step in that direction by committing to monitor and
14
Center for International Environmental Law (2017) Smoke and Fumes: The Legal and Evidentiary Basis for Holding Big Oil
Accountable for the Climate Crisis, by Carroll Muffett & Steven Feit, CIEL, Nov, 42 pp. https://www.ciel.org/wpcontent/uploads/2017/11/Smoke-Fumes-FINAL.pdf
15
Shue, Henry (2017) Responsible for What? Carbon Producer CO2 Contributions and the Energy Transition, Commentary on
Ekwurzel et al., Climatic Change, vol. 144:591-96. https://link.springer.com/article/10.1007/s10584-017-2042-9. Prof Shue:
University of Oxford, Dept. of Politics and International Relations.
16
Mulvey, Kathy, Jayne Piepenburg, Gretchen Goldman, & Peter C. Frumhoff (2016) The Climate Accountability Scorecard:
Ranking Major Fossil Fuel Companies on Climate Deception, Disclosure, and Action, Union of Concerned Scientists,
Cambridge MA, 40 pp. https://www.ucsusa.org/sites/default/files/attach/2016/10/climate-accountability-scorecard-full-report.pdf