The COP27 climate conference ended in Egypt today with a landmark agreement to compensate poorer countries that are the victims of climate change. But there was little progress in tacking emissions from burning fossil fuels, the root cause of global warming.
Mia Mottley, the prime minister of Barbados, called today for oil and gas companies to contribute to the cost of climate change.
The UN secretary-general has called on all industrialised countries to tax the windfall profits of fossil fuel companies.
Ineos Upstream, the company holding the largest number of shale gas licences in England, declared a loss of £3.679m in 2021. This was up more than 60% on the loss of £2.279m the year before.
The shale gas company, IGas, said today it could drill 80 wells by this time next year, with the “right government support”.
The East Yorkshire based oil and gas firm, Rathlin Energy, has said climate change will not affect its future operations.
Tax relief has pushed the shale gas company, Cuadrilla, into profit, company accounts have revealed.
Climate change driven by humans is already causing dangerous and widespread disruption, international scientists warned this morning.
International pledges to tackle climate change made in Glasgow last year will “wither on the vine” without action, Alok Sharma, the COP26 president said today.
IGas has confirmed it has relinquished the Tinker Lane shale gas licence in Nottinghamshire and written off £10m in exploration costs. But the company said it was continuing to work with regulators and government to end the moratorium on fracking in England.