New evidence reveals the fossil fuel industry’s decades-long campaigns to stall the growth of clean energy tech.
Shell announced this week that it will once again scale back its stated climate targets. The oil giant now plans to lower the “carbon intensity” of its fossil fuel emissions from 20% to a less strict 15-20% by 2030, after reaping billions in profits last year and defending its intention to keep doubling down on oil and gas production.
As fossil fuel companies steadily backslide on their already-questionable climate and clean energy promises, governments, shareholders, and international agencies have continued to plead with the industry to step up its investments in a renewable energy transition. “What we need are company chief executives, looking to the future and investing in that future and accelerating the transition to that future," former U.S. climate envoy John Kerry said in July when oil majors dropped their climate plans in favor of more fossil fuels.