No Big Oil company has emissions reductions targets in line with science.
Background: The organizers of COP 26 have decided to limit corporate participation in Glasgow to “organizations that are committed to taking real, positive action and have strong climate credentials.” Only companies that are committed to carbon-reduction targets in line with the Science Based Target Initiative will be invited to engage in talks at the world’s largest gathering of climate policy experts. The Science Based Target Initiative requires, among many things, that companies accurately account for emissions reductions by separating reductions by asset divestment from real efforts to decrease emissions from their business activities.
Statement of Josh Eisenfeld, Earthworks Corporate Accountability Campaigner:
“No major oil and gas company has a real, science based plan to meet its climate commitments.
“Rather than actually tackling the climate crisis with pollution reductions, companies are increasingly using greenhouse gas accounting tricks to dodge responsibility. Divestment of polluting assets misleads the public about continued climate threats and often moves polluting assets to a company with no climate plans–possibly worsening the climate crisis.”