The Tide Turns: Global Emissions
Climate activists have been advocating for fossil fuel giants to stand up and take responsibility for the damage they have caused to the environment for many decades now.
Yesterday, we saw the tide turn. In a day that will go down in history, the Hague courts ruled that Royal Dutch Shell (RDS) must cut its carbon emissions by 45% by 2030, significantly higher than the 20% RDS had committed to in the same time frame earlier. They pointed out that the company’s focus was more on social developments rather than remoulding their emissions policies.
Sustainable development is crucial and fossil fuel companies must focus on their Environmental, Social and Governance responsibilities. Social development projects are excellent as local communities are given the means to develop. However, there is no true development if companies still focus on investing billions into fossil fuels, giving companies like RDS the demand to continue their fossil fuel based activities. This isn’t a balance sheet by any means, positive and negative externalities cannot and will not ever undo each other.
We are entering a new age into the Green New Deal, both European and American, and international treaties like the Paris Agreement need to be upheld. R&D needs to be fed and encouraged. Energy will always be a huge demand in today’s economy, there is no shirking away from it. Investing ethically and using technology right can open a vast range of opportunities. I have an upcoming blog post on this topic, watch out for it!
Read more at https://www.independent.co.uk/climate-change/news/shell-trial-verdict-netherlands-emissions-b1854266.html
