Should Fossil Fuel Companies Be Held Accountable For Climate Change?
A Question of Responsibility
Today I’ll be answering a question that has come up in ever-expanding force lately: how accountable should fossil fuel companies be for climate change, and its damages?
Here are the scientifically proven facts:
Fossil fuel companies are largely responsible for climate change. A past study reported by the Guardian found that 100 companies of various ownership cause 71% of global emissions, and the number would be sure to expand the more fossil fuel companies were included in the statistic. Four of those companies, Chevron, Shell, BP and ExxonMobil, are responsible for 10% of emissions. This is significant, drawing direct ties between these corporations and the problem of climate change. This leads to the conclusion that fossil fuel companies have a role in causing the devastation wrought by climate change: increasing occurrences of heat waves, hurricanes, and other disasters. However, despite this…
Fossil fuel companies are not stepping up. In fact, they’re engaging in a practice known as “greenwashing,” where companies try to boost their environmental appearance and mislead the public while in reality doing little to lower their impacts. This is a tool particularly used by groups engaging in fossil fuels, as they try to cover up the fact that they are the greatest polluters. For instance, BP used advertisements in 2020 to boast of their natural gas and low-carbon energy products, while in reality focusing 96% of their capital on oil and gas - unsustainable fuels. BP only withdrew its advertising following public pressure.
As a result of climate change dangers, people are calling for fossil fuel companies to step up. Many are arguing for a form of “reparation,” a payment towards those their actions have harmed. One study covered by Nature suggested that companies pay a set amount each year, totaling $200 billion, in exchange for outputting CO2 that would likely harm people worldwide. Reparations would go down for each company as their fossil fuel use and pollution decreased. Another, more direct strategy employed by some is to sue fossil fuel giants for direct climate incidents: an Oregon county that includes Portland has sued “Exxon Mobil, Shell and BP, as well as the American Petroleum Institute, Koch Industries and the consulting firm McKinsey & Co,” accusing them of being responsible for the “heat dome,” a massive heat wave that briefly enveloped the Pacific Northwest in the summer of 2021. Another lawsuit by youths in Montana, alleging that the state had failed to consider the effects of fossil fuel companies when enacting legislation, was won by the climate activists. The state must now take into account the effects of climate change, although they are appealing the decision.
Whether or not fossil fuel companies will be held accountable for their roles in climate change remains to be seen; the answer will continue to unfold.
What do you think?
Nice to have The Globe restarted!