Exxon Mobil's response to climate change is consummate arrogance

Monday saw the release of the latest climate report from the planet’s scientists.Predictions of famine, flood, and so on – mostly what we already knew, in even more striking language.

But Monday also saw the release of another document somewhat less expected, and probably at least as important in the ongoing battle over the future of the atmosphere and hence all of us who live in its narrow envelope.

Exxon Mobil said: 'we are confident that none of our hydrocarbon reserves are now or will become ‘stranded''

Here’s the backstory. For 18 months now some of us have been campaigning for colleges, churches, cities and the like to sell their shares in fossil fuel companies, on the grounds that their business plans call for burning far more carbon than scientists believe the planet can safely handle. It’s become the fastest growing divestment movement in history — but some have tried to reach out to the industry and reach a middle ground instead, hoping to reform them instead of simply trying to break their power.

Profound thanks are due, then, to those shareholder activists who urged “constructive engagement” with the oil, gas and coal barons.

Because those organisations, groups like As You Sow, CERES, and the Interfaith Center on Corporate Responsibility, managed in very short order to get Exxon Mobil, the leader of the fossil fuel industry, to show its cards. In fact, in a truly historic moment, Exxon Mobil turned over the whole deck — and to its credit it showed it has nothing up its sleeve, no tricky rhetoric or sleight of hand. Just endless amounts of oil and gas.

On Monday the company issued two reports, in formal response to a shareholder resolution that demanded they disclose their carbon risk and talk about how they planned to deal with the fact that they and other oil giants have many times more carbon in their collective reserves than scientists say we can safely burn.

The company said that government restrictions that would force it to keep its reserves in the ground were “highly unlikely,” and that they would not only dig them all up and burn them, but would continue to search for more gas and oil — a search that currently consumes about $100 million of its investors’ money every single day. “Based on this analysis, we are confident that none of our hydrocarbon reserves are now or will become ‘stranded,’” they said.

This is an honest reply. It is as honest as the report that emerged the same day from the world’s climate scientists, which demonstrated that if Exxon Mobil and its ilk keep their promise to dig up their reserves and burn them, then the planet will no longer function effectively.

Some of us, cynically, thought all along that this would be Exxon’s posture. The company, after all, poured millions into denying climate science when that was still possible. That’s why we’ve been calling for divestment.

We’ve never thought that there was a small flaw in their business plan that could be altered by negotiation; we’ve always thought their business plan was to keep pouring carbon into the atmosphere. And indeed Exxon’s statements are easy to translate: “We plan on overheating the planet, we think we have the political muscle to keep doing it, and we dare you to stop it.” And they’re right — unless we build a big and powerful movement, they’ll continue to dominate our political life and keep change from ever taking place.

So now, with that information clearly on the table, it’s time for college boards and foundation heads, church denominations and city mayors to act and act firmly. By divesting — by announcing that they are breaking ties with these companies — they will begin the process of politically bankrupting them. Of taking away the social license that allows them to act with such consummate arrogance, on the very day that the planet’s scientists laid bare the impact of climate change on everything from crop yields to civil wars.

It’s never fun to see one’s cynicism confirmed. But Monday was a day for reality, on the scientific front but also the political, economic, and corporate.

The only open question left is what we’re going to do about it. More

 

© 2014

Without nuclear, the battle against global warming is as good as lost

A madness is taking hold. In the same week as Arctic ice cover is recorded at its lowest ever extent, two major countries decide to reduce or eliminate their use of the only proven source of low-carbon power that can be deployed at sufficient scale to tackle our climate crisis.

Japan plans to phase out nuclear entirely by 2030, its prime minister announced today. The French president has just revealed a plan to dramatically reduce the country's reliance on nuclear, which currently gives France some of the cleanest electricity in the world.

Let me be very clear. Without nuclear, the battle against global warming is as good as lost. Even many greens now admit this in private moments. We are already witnessing the first signs of the collapse in the biosphere this entails – with the Arctic in full-scale meltdown, more solar radiation is being captured by the dark ocean surface, and the weather systems of the entire northern hemisphere are being thrown into chaos. With nuclear, there is a chance that global warming this century can be limited to 2C; without nuclear, I would guess we are heading for 4C or above. That will devastate ecosystems and societies worldwide on a scale which is unimaginable.

Given the trauma the Japanese people have suffered since the earthquake and tsunami of 11 March 2011, it is understandable that major questions are asked of domestic politicians. But we must never forget that Fukushima has killed no one. More people in Japan recently died from an E coli outbreak due to eating contaminated pickles. Scientists also agree there will never be an observable cancer increase in the Japanese population attributable to Fukushima.

But in response to the nuclear shutdown, oil and gas imports to Japan have doubled, and carbon dioxide emissions soared by more than 60m tonnes. Any environmentalist who celebrates this outcome is not worthy of the name.

Japan is already backing away from its own climate change targets. As a participant in the UN climate negotiations last year, I watched this happen. Under the 2009 Copenhagen accord, Japan pledged to reduce CO2 emissions by 25% by 2020. The plan was to increase nuclear to half of national electricity in order to facilitate the carbon cuts, supported by an increase in renewables to 20% by 2030. To reach the same targets without nuclear is impossible; wind and solar combined meet barely 1% of electricity production today in Japan, and there is no way they can be deployed at sufficient scale to meet the gap. So the climate targets will be dropped, as Japan re-carbonises its economy.

It is nothing short of insane that politicians around the world, under pressure from populations subjected to decades of anti-nuclear fearmongering by people who call themselves greens, are raising our collective risk of catastrophic climate change in order to eliminate the safest power source ever invented. More