This comes in the wake of 130+ U.S. & EU lawmakers echoing calls from civil society for governments & UN decision-makers to end the ability of #BigPolluters to write the rules of climate action. ⬇️
https://www.washingtonpost.com/climate-environment/2023/05/23/cop28-climate-summit-sultan-al-jaber/

#BigPolluters are interfering with climate negotiations to pad their profits as the world burns.

In 2022, the five majors made record-breaking profits of $200 billion, more than 2x what they made in 2021. 💰

#ClimateChange #ClimateLitigation #BigPolluters: "The study, which is currently being peer reviewed, analysed 108 climate crisis lawsuits around the world between 2005 and 2021 against 98 companies listed in the US and Europe. It found that the filing of a new case or a court decision against a company reduced its expected value by an average of 0.41%.

The stock market responded most strongly in the days after cases against carbon majors, which include the world’s largest energy, utility and materials firms, cutting the relative value of those companies by an average of 0.57% after a case was filed and by 1.5% after an unfavourable judgment.

Although modest, the researchers conclude that the drop in the value of big polluters is statistically significant and therefore down to the legal challenges."

https://www.theguardian.com/environment/2023/may/22/big-polluters-share-prices-fall-climate-lawsuits-fossil-fuels-study

@simonstiel @antonioguterres how can you allow an oil CEO to be President of #COP28?

CEO joins 425 groups from around the world to demand we protect climate policy from #BigPolluters' influence.

It's time we #KickBigPollutersOut.
https://kickbigpollutersout.org/sites/default/files/2023-01/Letter-%20KBPO%20response%20to%20COP28%20Presidency.pdf