Court orders Royal Dutch Shell to cut net emissions by 45%
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“People around the world are getting ready to follow our example and take oil companies to court,” he said, adding that the decision means oil companies will become more reluctant to invest in fossil fuels.
A Dutch court judgement ordering Shell to cut its emissions by 45 per cent is being hailed as a victory by environmental groups even as the energy giant says it will appeal the ruling.
And experts say it could have an impact in Canada.
The Hague District Court ruled on Wednesday that the Anglo-Dutch company has a duty of care to reduce emissions and that its current reduction plans were not concrete enough. The case against Shell was brought by Friends of the Earth Netherlands, known as Milieudefensie, along with 17,000 co-plaintiffs and six other organizations, including Fossil Free Nederland and Greenpeace Netherlands.
www.theglobeandmail.com
Big Oil loses carbon emissions showdown in landmark case
A Dutch court judgement ordering Shell to cut its emissions by 45 per cent is being hailed as a victory by environmental groups even as the energy giant says it will appeal the ruling.
And experts say it could have an impact in Canada.
The Hague District Court ruled on Wednesday that the Anglo-Dutch company has a duty of care to reduce emissions and that its current reduction plans were not concrete enough. The case against Shell was brought by Friends of the Earth Netherlands, known as Milieudefensie, along with 17,000 co-plaintiffs and six other organizations, including Fossil Free Nederland and Greenpeace Netherlands.
Big Oil loses carbon emissions showdown in landmark case
Three of the industry’s biggest names tried to face down shareholders and the courts and were pushed by both to do more to limit carbon emissions
www.theglobeandmail.com
God you're an idiot. The ONLY reason the Hague could make that ruling against Shell is because the Hague is the HQ for Royal Dutch Shell.
And what the hell is Fossil Free Nederland? Sounds like a bunch of anti-natural history museum cranks.
And what the hell is Fossil Free Nederland? Sounds like a bunch of anti-natural history museum cranks.
Which could just as well read: "After extensive investigation we have discovered that by 2050 what oil there is left in the ground in the oilsands will be so expensive to extract that we might as well close up shop anyways."
So no more ships calling to Dutch ports. Good news for the more enlightened countries with port facilities. Close Amsterdam airport too. Oh, and no more heating greenhouses for winter tulip production.
Watching the woke generation destroy themselves is getting to be entertaining.
Watching the woke generation destroy themselves is getting to be entertaining.
China is heavily invested in the port of Rotterdam.
www.npr.org
china is in the midst of a record oil needs due to global freezing too BTW.
oilprice.com
Chinese Firms Now Hold Stakes In Over A Dozen European Ports
China's expansion into European ports is part of its new Maritime Silk Road, which aims to better connect the country to global commercial hubs. But this is about more than just moving cargo.
www.npr.org
china is in the midst of a record oil needs due to global freezing too BTW.
How Climate Change Increased The Need For Fossil Fuels In 2021
The Japanese power sector has also been affected by heavy snowfall and a lack of sunshine, thus affecting solar power generation and worsening the overall power supply. While the shortage can be offset by increased use of coal and oil, utilities have asked the public to use less electricity, a difficult ask in the midst of freezing temperatures.
How Climate Change Increased The Need For Fossil Fuels In 2021 | OilPrice.com
Data from Rystad Energy suggests that changing weather patterns could lead to a structural increase in demand for fossil fuels such as coal, natural gas and even oil
oilprice.com
Jesus, I've never seen so many triggered babies.
Someone, please think of the poor, big oil companies.
And the best part is that the only comeback you guys have after that is 'good luck living without a car' or 'enjoy life without heating' lol
Someone, please think of the poor, big oil companies.
And the best part is that the only comeback you guys have after that is 'good luck living without a car' or 'enjoy life without heating' lol
Canada's top pension funds boost investments in high-carbon oil sands
Nia WilliamsMaiya Keidan4 minute read
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General view of the Imperial Oil refinery, located near Enbridge's Line 5 pipeline in Sarnia, Ontario, Canada March 20, 2021. REUTERS/Carlos Osorio/File Photo
Read More
Canada's biggest pension managers boosted their investments in the country's major oil sands companies in the first quarter of 2021, raising questions about the funds' recent commitments to greening their portfolios.
The cumulative investment by the country's top five pension funds into the U.S.-listed shares of Canada's top four oil sands producers jumped to $2.4 billion in the first quarter of 2021, up 147% from a year ago, a Reuters analysis of U.S. 13-F filings show. Much of that increase, which bucked a declining trend since 2018, came from rising prices of shares already owned, but the funds also purchased more shares.
The five funds, in order of size, are Canada Pension Plan Investment Board (CPPIB), Caisse de dépôt et placement du Québec (CDPQ), Ontario Teachers' Pension Plan (OTPP), British Columbia Investment Management Corp (BCI) and the Public Sector Pension Investment Board (PSP), which together manage more than C$1.4 trillion ($1.2 trillion) in assets.
Governments, companies and investors around the world have stepped up pledges to drastically reduce climate-warming greenhouse gas emissions. Some large pension managers, including the New York State Pension Fund and Norway's largest pension fund KLP, have exited oil sands companies. read more
Well, with bonds and banks paying less than inflation subtracts....
Sure, in Texas they sure found out that parts of the "government" enacted policy and laws dictating it not work like clockwork. Then while it was not working they sent out some pretty darn large enron style bills to their customers for the trickle of power they did get.
I have a terrible feeling we will be getting this enron play anywhere "they" can slip it in because bubbles may become the only way to beat the increasing inflation.
Sure, in Texas they sure found out that parts of the "government" enacted policy and laws dictating it not work like clockwork. Then while it was not working they sent out some pretty darn large enron style bills to their customers for the trickle of power they did get.
I have a terrible feeling we will be getting this enron play anywhere "they" can slip it in because bubbles may become the only way to beat the increasing inflation.