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Op-Ed: Could May 26 be the turning point on fossil fuel production?

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24.09.2021

May 26, 2021 was a trifecta for climate activists working for disinvestment from fossil fuels and reinvestment in renewable energy. Dissident Exxon Mobil shareholders won a stunning victory at the annual meeting, opposing four of management’s proposed candidates and winning three seats on the company’s board for candidates supporting transition to renewable energy.

The same day, Chevron stockholders rejected management’s position and voted 61% of their shares to cut the company’s “Scope 3” greenhouse gas emissions, that is, emissions including those of its suppliers and customers. Hours earlier, a Dutch court ordered Royal Dutch Shell to reduce its 2019 carbon emissions by 45% by 2030, replacing the company’s current target of 20%.

These measures align with the Paris Climate Agreement commitment to limit the rise in our atmosphere’s temperature to 1.5°C above preindustrial levels by 2050. And the fate of the planet may depend on whether oil and gas companies themselves join the battle for a sustainable future.

Last December,........

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