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‘Our profit, your loss’

Protesters target Shell HQ as company posts profits of £30k per minute since March
Katie Hill - Editor-in-Chief, My Green Pod
Protesters Target Shell HQ in London

Main image: © Chris J Ratcliffe / Greenpeace
 
A giant spoof advertising billboard was erected by protesters from Greenpeace UK outside Shell’s HQ yesterday (27 July), calling out the company for posting profits of nearly £4bn ($5.1bn) while devastating wildfires linked to climate change are causing devastation across Southern Europe, North Africa and North America.
 
The billboard, which features an image of a Greek firefighter battling to contain a wildfire near Athens last week, is emblazoned with Shell’s logo and features the slogan ‘Our profit, your loss’.

It draws attention to the oil and gas industry’s responsibility for extreme weather linked to the climate change caused by the burning of fossil fuels.

Record heatwaves

Wildfires continued to rage across Greece this week, forcing tens of thousands to flee their homes.

The fires were sparked by the Cerberus heatwave that saw temperatures in Southern Europe soar to almost 50ºC.

Hundreds of British holidaymakers were among those evacuated.

Record heatwaves were also recorded in North America and Asia in recent weeks, which scientists have attributed to the effects of climate change caused by burning fossil fuels.

‘While millions attempt to rebuild their lives after months of extreme weather wreaked havoc from Rhodes to Rajasthan, Shell is upping oil and gas production, slashing investment in renewables and posting billions of dollars in profits. They’re partying like there’s no tomorrow and ordinary people around the world are being forced to pick up the tab.
 
‘It is blazingly clear that global leadership is needed to end this fossil fuel free-for-all, but instead the UK government is flip-flopping on its climate commitments and further enriching the oil giants with new fossil fuel developments. It’s time for the government to find its backbone and force Shell and the rest of the industry to stop drilling and start paying for the damage they are already causing around the world.’

MAJA DARLINGTON
Campaigner at Greenpeace UK

Paying for loss and damage

In light of the soaring costs of loss and damage from extreme weather, which is estimated to reach between $290 and $580 billion a year by 2050, Greenpeace is calling for Shell and other oil giants to be made to pay for the climate loss and damage they have caused by paying into the Loss and Damage fund agreed at COP27. 
 
Despite posting £11.5bn in profits since the start of the year and around £30,000 per minute since March, Shell’s new CEO has rowed back on the company’s green targets, abandoning plans to reduce oil and gas production by 2030 and slashing investment in renewable energy.

In a recent interview, Sawan described cutting production as ‘dangerous and irresponsible’, claiming that the world still ‘desperately needs oil and gas’.

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