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Assaad Razzouk Profile picture
@AssaadRazzouk
May 17 • 13 tweets • 5 min read Twitter logo Read on Twitter
After 27 years of UN climate talks, Big Oil finally succeeded in completing its hijacking of the annual meeting of 198 countries to act on climate

@UNFCCC should be going nuts about it and acting (fat chance, probably)

Top 10 reasons why the hijacking is complete:

🧵 #COP28
1 For the first time ever, an oil chief - and in this case no less than the CEO of a major oil company - is appointed president of the COP28 climate summit

politico.eu/article/cop28-…
2 The COP28 team is marshalling a new alliance of the oil and gas sector which of course is "forgetting" to include in its pretend-decarbonizing goals the bulk of emissions from fossil fuels

ft.com/content/0d8b8b… #greenwashing
3 To hammer home the point that Big Oil is in charge, the UAE is planning a huge oil and gas expansion as it hosts the UN climate summit: 7.5bn barrels of oil – the 5th largest increase in the world. Oil which we don't need and can't afford to have.

theguardian.com/environment/20…
4 The #COP28 President now wants to end "fossil fuel emissions" -not fossil fuels, which was the whole point of COPs. Focusing on emissions allows Big Oil to keep the carbon capture con going, and therefore change exactly nothing at all

bloomberg.com/news/articles/…
5 Just in case it wasn't clear that climate summits are now effectively closed oil summits, the UAE climate event organizers warned speakers not to ‘criticize corporations’, or to protest

ft.com/content/9ddd07…
6 COP28 climate summit is offering multi-million pound sponsorship packages for exclusive access - tripling prices since the last COP (presumably to make sure only fossil fuel interests can afford them)

news.sky.com/story/cop28-cl…
7 Abu Dhabi's oil company is flooding Asia with fossil gas, as the UAE spends billions to triple its LNG production capacity - all while calling for a tripling of global renewables at the same time. Deeds versus words

lemonde.fr/economie/artic…
8. Syria's Bashar al Assad was invited by the UAE to the COP28 climate summit. This must be about Syria accelerating its efforts to tackle the climate crisis, not!

Impact: confuse agendas, while turning COP28 attendance radioactive to many countries

edition.cnn.com/2023/05/16/wor…
9. Lobbyists galore: Number of fossil fuel lobbyists at COP28 set to exceed all records, both at the venue and in the COP28 organizing team. Here's a sample:

ft.com/content/87dc8f…
10. Partisanship: "“When you are the president of the Cop, you cannot put forward the position of the country that you’re coming from. You have to be able to be neutral”

theguardian.com/environment/20…
I could be wrong: there is always hope, after all.

"Hope is a risk that must be run"

- Georges Bernanos

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More from @AssaadRazzouk

Assaad Razzouk Profile picture
Mar 13
Saudi Aramco just posted $161b in "profits" and is going to "increase production capacity to 13m barrels/day"

Its scope 3 emissions, however, are 1,600m tons of CO2. Its charge for this environmental destruction should have been, at $100/ton, $160b, wiping out its profits

1/n
That's before ANY charge for environmental destruction other than emissions, of which they have an enormous amount

2/n
Big Oil profits only exist because environmental destruction isn't quantified or accounted for. Today, destroying the environment and polluting free of charge are simply a disclosure and reporting issue: Big Oil executives and shareholders are recompensated for destruction

3/n
Read 7 tweets
Assaad Razzouk Profile picture
Feb 3
Some context around the $200 billion in net profits just 5 oil companies made in 2022

$200bn isn't just obscene, it's also wrong: these companies all lost money. We just can't "see it" because they don't pay for their wanton destruction of the environment

THREAD
Big Oil profits exist because environmental destruction isn't quantified or accounted for. Today, destroying the environment and polluting free of charge are simply a disclosure and reporting issue: Big Oil executives and shareholders are recompensated for destruction

2/n
ExxonMobil tells us its emissions were the equivalent of 690 million tons of CO2. The social cost of carbon – in other words, how much damage in dollars one ton of CO2 emitted into the atmosphere causes – is estimated to be anywhere from $50 to $200. Let’s suppose it is $100

3/n
Read 19 tweets
Assaad Razzouk Profile picture
Jan 30
The Glasgow Financial Alliance for Net Zero is a complete joke and provides cover to banks frying the planet while pretending to go "net zero"

A new report published by 13 NGOs comprehensively proves the point

THREAD
The Glasgow Financial Alliance for Net Zero presents itself as "a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy" blah bah blah

As a matter of fact, they appear committed to exactly the opposite aim

2/n
Top 10 climate destroying banks: largest fossil fuel expanders from joining NZBA

1 Citigroup $31b in climate destruction finance
2 Bank of America $23b
3 MUFJ $23b
4 Mizuho $19b
5 JP Morgan $17b
6 HSBC $12b
7 SMBC $12b
8 Morgan Stanley $11b
9 RBC $10b
10 Deutsche $9b

3/n
Read 10 tweets
Assaad Razzouk Profile picture
Dec 27, 2022
My animal of the year (including humans): Insects, which we are in the process of wiping out

If you drive, have you noticed that many fewer insects crash into your windshield compared to a few years ago? Sadly, this has a name: the ‘windshield phenomenon’

🧵
This should be front-page headline news every day. We like to think we run the world, but we are not the world’s ultimate controllers. The ultimate controllers, the tiny things that enforce our world order, are insects

Yet we are in the midst of a massive insect apocalypse

2/n
As we continue to transform - and destroy - Earth, insects are declining at an unprecedented rate of perhaps 2% a year from deforestation, pesticides, pollution and climate change

3/n
Read 14 tweets
Assaad Razzouk Profile picture
Nov 5, 2022
Luxury cruises are punctured garbage bins on water
>47 cruise ships emit 10 times more sulphur dioxide in European waters (2017 data) than all of Europe’s 260m cars combined
>That's just 1 of 3 air pollutants discharged from the ships’ smokestacks

And it gets worse

THREAD
The industry also uses the dirtiest possible fuel to power its ships, one that is 100 times more polluting than road diesel
>Bunker fuel is waste from the oil refining process and it is an environmental nightmare

2/n
>Pitch black, thick, heavy and toxic, it doesn’t evaporate and it emits more poison than other fuels because it’s loaded with sulphur, which when burned releases gases harmful to human health and to the environment

3/n
Read 12 tweets
Assaad Razzouk Profile picture
Oct 11, 2022
Bangladesh is at front lines of #ClimateCrisis, ravaged by floods and sea level rise. Yet, in act of collective suicide, it suppresses climate activism while administering a coup de grace to its own prospects by powering its economy with gas, a key driver of worsening heating
Here's Bangladesh suppressing environmental dissent

"We demanded an environmentally friendly plant that will benefit the community and not hurt the environment, and I was arrested under Digital Security Act and had to go to jail for 80 days”

aljazeera.com/news/2022/10/4… #climate
Here's Bangladesh's reckless dash for gas - it's building 4.7 GW of new gas-fired power plants as of July 2022, with a further 23.6 GW in the pipeline - all helping accelerate the country's climate breakdown

ember-climate.org/insights/comme… #climate
Read 4 tweets

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