A new @CarbonBubble report is a searing critique of the "dead man walking" state of global climate action, though couched very politely

Here’s - bluntly - some of what it really says

THREAD
Report: “In the decade since our original Unburnable Carbon report was published, much has changed and yet nothing has changed”

Restated: In the past 10 years, governments, politicians and businesses have talked more loudly about climate action, but done incredibly little

2/n
“This report shows the absolute urgency for governments to act; for regulators to intervene; and for investors to do their job of analysing and managing risk”

Restated: Governments, regulators and investors aren't doing the work and are standing in the way of climate action

3/n
“Firstly, governments need to ensure that the debt and equity markets themselves are aligned with net zero and this has to start with no more coal, oil and gas IPOs or bond placements”

Restated: the capital markets are fuelling a worsening addiction to fossil fuels

4/n
“The first carbon bubble report was written [10 years ago] as an appeal for regulators to intervene and ensure world’s key capital markets are stable and resilient to clearly rough times ahead”

Restated: Financial regulators have done almost nothing on climate for 10 years

5/n
“Over 10 years on, the Earth’s carbon budget is nearly entirely exhausted, and [...] we find that financial markets are still heavily entrenched in the fossil fuel system”

Restated: We are out of time and the financial markets are complicit in Big Oil’s obfuscation

6/n
“Despite growing recognition of the problem, current global actions are implicitly accepting a higher likelihood of ecological disaster”

Restated: The #ClimateCrisis is getting worse, not better

7/n
“We highlight the role of listings authorities; admissions panels of stock exchanges; bankers who prepare prospectuses; and regulators responsible for overseeing the content of prospectuses”

Restated: Bankers, lawyers and regulators are actively pre-empting climate action

8/n
“To limit warming to 1.5°C, 90% of fossil fuel reserves must stay in the ground as unburnable carbon”

Restated: Forget about 1.5°C and 2°C. We are now fighting against 3°C of warming

9/n

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More from @AssaadRazzouk

Jun 21
"We seem trapped in a world where fossil fuel producers and financiers have humanity by the throat. They exploited the same scandalous tactics as Big Tobacco decades before [and] must not escape responsibility"

UN Secretary-General, speaking truth to power, 17-6-22

#climate
Full quote:

"Yet we seem trapped in a world where fossil fuel producers and financiers have humanity by the throat.

For decades, many in the fossil fuel industry has invested heavily in pseudo-science and public relations – with a false narrative to minimize
their responsibility for climate change and undermine ambitious climate policies.

They exploited precisely the same scandalous tactics as Big Tobacco decades before.

Like tobacco interests, fossil fuel interests and their financial accomplices must not escape responsibility
Read 5 tweets
May 9
The Commission on Human Rights of the Philippines (CHRP), independent body set-up under the constitution to investigate allegations of human rights violations against Filipinos, released a 160-page National Inquiry on Climate Change with explosive findings against Big Oil

THREAD
In 2015, NGOs and communities impacted by typhoon Haiyan, one of the most powerful tropical cyclones ever recorded and which caused the death of over 6,000 people within hours of landfall, filed a complaint before CHRP

2/
They asked the institution to conduct an inquiry about the alleged human rights violations resulting from climate change linked to the 47 biggest fossil fuel companies

CHRP released its report on 6 May 2022

3/
Read 19 tweets
May 6
The World Bank’s “2022 Global Gas Flaring Tracker Report” should have been headline news: it exposes how we are being inexorably pushed into the climate horrors abyss because of, frankly, incomprehensible levels of wanton destruction by the oil & gas industry

THREAD (1/11) Image
Gas flaring is the amazingly wasteful oil & gas industry practice of burning “natural” gas during oil production, thus releasing an EXTRA 1 bn tons of CO2 on top of everything else the oil & gas industry is polluting us with

2
Global gas flaring volumes have remained pretty much at the same level over the last 10 years, plateauing at around 144 bcm

10 years!

*all the talk about climate action by Big Oil was just that, talk*

3/ Image
Read 12 tweets
Mar 5
In the same week that @IPCC_CH issued its most strident warning about climate change on our health, planet, and economies, 2 NGOs issued reports about what companies are really doing on emissions reduction

Answer: Almost nothing

THREAD
In 1st report, @CDP concludes that out of the 13,000+ companies that disclosed in 2021, only 1% (135) have a credible climate transition plan

1% !!!

2/
In 2nd report, @AsYouSow finds that out of 55 of the largest US-based corporates, zero (!) achieve a top score for target-setting around emissions reductions and just 2 – Microsoft and Apple – have goals to reduce Scope 3 emissions that are 1.5C-aligned

3/
Read 9 tweets
Feb 27
There is so much non-sense about the “difficulties” of breaking Europe’s addiction to fossil gas

In short: It can, it must and will be – inevitably – done. We have both a climate emergency and fossil-fuelled wars on our hands

No one said it was easy, but it can be done

THREAD
Why we are here:

>20% of EU’s total energy is from fossil gas, 40% of which comes from Russia
>Eastern European countries most exposed in the EU, followed by Germany which relies on Russia for 32% to 60% of its fossil gas, depending
>Big Oil vested interests are everywhere

2/
(A reminder) Fossil gas:
>Is dirtier than coal when emissions from its supply chain are taken into account
>Feeds continued subservience to oil & gas powers and vested interests
>Worsens the climate emergency
>Kills

3/
Read 6 tweets
Jan 20
Department of incredible plastic pollution facts (reminder: plastics are 99% fossil fuels)

1 Over 10,000 chemicals are found in plastic, 24% of which are substances of concern (read, bad for health), and 39% of which we have no data on (producers hide it)

THREAD
2 More than 80% of invasive species in the Mediterranean arrived on floating plastic waste

3 Plastic never truly biodegrades, but simply breaks up into smaller and smaller pieces

2/
4 Vectors for disease: At least 387 different groups of animals, plants and micro-organisms live on the surface of floating plastic waste

3/
Read 12 tweets

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