Big oil companies are expected to face a growing number of lawsuits in the coming years, something analysts liken to lawsuits against big tobacco companies by activists.
According to CNBC, the possibility of increased legal proceedings against these companies comes after a historic decision by the Hague court against Royal Dutch Shell, which last May ruled that the Anglo-Dutch giant must set higher emission reduction targets. It also ruled that Shell was responsible for the gas emissions of its suppliers.
This decision is also the first court decision to follow the rules of the Paris Agreement and is a historic moment in dealing with climate change.
A recent survey by Verisk Maplesoft said that companies operating in the oil, gas, coal and electricity sectors will be targeted for lawsuits, which makes sense since 83% of gas emissions are due to burning fossil fuels. hydrocarbons.
Since the beginning of the 21st century, more than 2,000 lawsuits have been filed against these companies, 90% in the US and the EU, but new sites are beginning to show an increase in lawsuits, such as Argentina, South Africa and India. This year alone, according to Verisk Maplesoft, 70 such lawsuits have been filed worldwide, an increase from every other first half.
Decades before oil and gas companies tried to dampen public opinion on climate change, the tobacco industry sought to downplay the scientifically proven link between smoking and lung cancer.
Regulators had not acted quickly and many lawsuits had failed. However, in 2006 a landmark decision in the US announced that the US tobacco industry had misled the public into linking smoking with cancer and other health problems.
In addition to lawsuits against companies that produce large amounts of hydrocarbons, governments are being pressured to increase pressure on these companies to protect future generations.
(BalkanWeb)
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