As governments and communities around the world face growing costs from devastating climate impacts, there’s a looming elephant in the room: The billionaire-polluter class has never had it so good. 

Profits of oil and gas corporations remain obscenely high. Five companies alone (ExxonMobil, Chevron, Shell, BP, and TotalEnergies) reported over US$100 billion cumulatively in profit for 2024 and Big Oil firms are handing shareholders more money than ever, while promising even more payouts through dividends and share repurchases in the future.

Meanwhile, 2024 was the hottest year on record globally, with over 150 unprecedented extreme weather events, fuelled by the greenhouse gas emissions of the oil and gas industry. From Kathmandu to Dubai, the Philippines, North and South America, no part of the world is left untouched.

People over profits

Why should people suffering the impacts of extreme weather be left with the bill, when the corporations who fuelled the crisis, obscured the science about climate change and lobbied against action are allowed to continue to pollute our planet and make huge profits? With half of the world’s CO2 emissions coming from just 36 fossil fuel firms, and 89% of global CO2 emissions coming from fossil fuels and industry alone, we’re talking about a sector that has damaged the health and livelihoods of communities around the world for decades. The devastating case of Shell in the Niger Delta, which has caused babies to be born with birth defects and significantly reduced the productivity of local farming and fishing, is just one of many examples.  

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- Albedin Simanth

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