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From Common Dreams
In another high-profile case of “greenwashing,” the oil and gas companies that signed a decarbonization pact at last year’s 28th United Nations Climate Change Conference have plans that would burn through around 62% of the carbon dioxide that can still be emited without pushing global temperatures past 1.5°C above preindustrial levels.
The figures come from a Global Witness analysis published Friday, which found that the more than 50 companies that signed the pact would release over 150 billion metric tons of climate pollution into the atmosphere by 2050.
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Global Witness used data from Rystad Energy to look at the production plans of the pact’s signatories—which include major state and private companies such as Saudi Aramco, Al Jaber’s Abu Dhabi National Oil Company (ADNOC), ExxonMobil [wiki], and Shell—and then calculated the total emissions of those plans through 2050.
It found that the companies would produce 265 billion barrels of oil and 26.7 billion cubic meters of gas by 2050, and that this would result in 156 billion metric tons of carbon dioxide equivalent emissions, or approximately 62% of the remaining carbon budget.
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Read the full post at Common Dreams.
