Wednesday, 18 January 2023

Guilty As Charged?

At Davos' World Economic Forum, the UN Head has compared the world's biggest fossil fuel companies to the tobacco industry. For years, the tobacco companies famously denied their products caused cancer, even though they had irrefutable evidence for this link. It has become established that, decades ago, major fossil fuel companies knew that 'greenhouse gas' emissions, from coal, oil and gas, would put the planet on course for climate breakdown (https://www.theguardian.com/business/2023/jan/18/un-head-accuses-fossil-fuel-firms-of-business-models-inconsistent-with-human-survival). His analogy is apt. There is no sign, however, that the fossil fuel companies (and their political facilitators) are abandoning their 'business model'. Most seem to have an insatiable thirst for more oil and gas. Profits always seem to trump the precautionary principle. Even the UN is not immune from financial considerations. As noted, in an earlier post, its next Cop meeting is scheduled to occur in the oil-rich United Arab Emirates. Their Oil Company head will be President. The UAE are, no doubt, providing some sponsorship for the meeting. Now, that's what I call, a conflict of interest!

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