They say that just 90 companies are responsible for two thirds of the world's climate changing emissions since 1751. Towards the top of that list are two well known British/part British firms: BP and Shell. Between them, according to a recent report, they had their fingerprints on 5.59% of all global CO2 emissions for the 259 years to 2010. With that in mind, it's worth asking a few questions about them, and their role at the Paris climate talks.
On the whole, European oil companies haven't taken the same position as their rivals in the US. Rather than dismissing the need for action on climate change, they signed a joint statement earlier this year calling for a “sensible and effective” deal. “A new climate agreement in Paris” they say “can help strengthen the role of, and minimize risks to, the private sector in a number of ways”. One of the ways they propose is:
“Facilitating Carbon Pricing - Requiring countries choosing to employ international carbon trading to ensure the environmental integrity of these transactions can help facilitate the growth and credibility of the global carbon market, a critical tool for cost-effective emissions reduction.”
