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‘Lobbying against decarbonisation won’t stop net zero agenda’

By Femi Adekoya
09 September 2022   |   3:44 am
International Oil Companies (IOCs) have been warned to stop influencing governments against decarbonisation as well as slowing the transition plans to renewables.

International Oil Companies (IOCs) have been warned to stop influencing governments against decarbonisation as well as slowing the transition plans to renewables.

This was the view the former Secretary General of the United Nations Framework Convention of Climate Change (UNFCCC), Christiana Figueres, while speaking on ‘Achieving Radical Collaboration on Climate Objectives’.

According to her, the Russia-Ukraine crisis has exposed the effect of fossil fuel dependence.

She said: “Come 2050, gas is not going to be a major source of energy. There is a need to understand that it was a major source, yes it has to be now because of Russia’s invasion, but it has to go.

“There has been lobbying of government against climate change policies and regulations. Stop lobbying the government to betray its number one responsibility to its citizens. Don’t disingenuously complain of lack of government policies when you are increasingly lobbying the budget for fossil fuel-friendly policies as irresponsible profiteering at the expense of humanity must stop.

“Overall, I am deeply disappointed. I hear a lot of the conversations about decarbonisation, but I don’t see the decisiveness and actions to that effect.

“What I see is the age of problem of shifting capital around and maintaining another type of ambiguous toxic status quo instead of aggressively leveraging the cash base to take up more calibrated risked and accelerated investment into new asset process and services.”

“The fossil fuel era is approaching its expiration day, as the IEA is unequivocally stating that there is no more room for new fossil fuel exploration and that thus includes Natural gas.

“It would soon be horrifying evident that the current high energy crisis has provided historically high profits for their vast industry and at the same time turning abject poverty into unfathomable misery among the most vulnerable operations of the world. This, however, has turned more into poverty for the first time.

“There is a need for the oil companies to leverage their current profitability to contribute to the solution of de-carbonisation. Despite current high prices business continuity of this industry depends on a clear and decisive shift in the business model.

“Africa has become the ideological battleground in the energy transition and there is an urgent need for oil companies to be conscious of its business continuity and environment.”