London, UK – Today the oil and gas giant BP posted obscene second quarter profits of £2 billion, joining corporations like Exxon, Shell, Total, and Chevron – companies that earned a staggering £25.8 billion in profit during the first quarter of 2023 alone. This latest announcement takes place as wildfires rip through southern Europe and the World Meteorological Organization announced that July is set to become the hottest month on record.
Last year, over three million people in the UK could not afford their energy bill and suffered from energy poverty. Despite this the UK government has launched an attack on the most moderate climate and energy policies – this government is actively making it harder for people to heat and insulate their homes and businesses, while increasing the risk of climate impacts.
Tommy Vickerstaff, UK Team Lead at 350.org says, “we’re almost desensitised to BP’s profits at this point because the government has continuously failed to take action to redistribute them. But there is nothing normal or routine about BP’s profit margins or about the destructive heatwaves we’re seeing across Europe that BP is directly responsible for causing. We need a complete overhaul of our energy system that takes power out of the hands of these companies and guarantees ordinary people access to clean, reliable energy from renewable sources that won’t cause more devastating fires and floods”
Across Europe and around the world, the most marginalised communities are bearing the brunt of deadly climate impacts, from wildfires in Greece to floods in India.
Nicolò Wojewoda, Europe Regional Director at 350.org says:
“Europe has been suffering with shocking and deadly climate impacts in recent weeks, along with every other continent on the planet. You would think that those most responsible for the hottest month in recorded human history are being held accountable. Think again – fossil fuel companies, instead of facing consequences, continue being rewarded with record-breaking annual profits, having cashed in more than $200 billion in 2022 alone.
Fossil fuel industry profits are soaring alongside the rise in global temperatures they’re responsible for. This must end now. We must hold them accountable for the damage they’ve inflicted, making them pay for it, and phasing their dangerous influence out of existence. The money we need for our communities to transition to an alternative energy system powered by renewables – that centers people rather than corporate profits – is in the coffers of these exploitative companies. It is ours to seize and use, to power up the solutions we know are needed and are within reach.”
Due to the continued profiteering of oil giants, their false promises and the lack of political will for real climate justice people are mobilising around the world. This week the global climate organisation 350.org announced plans for worldwide days of action – 3rd and 4th of November 2023 – demanding the urgent acceleration of the transition to a renewable-powered world.
Media Contact: Mark Raven, [email protected], +447841474125