New York is suing Shell for role in climate change

Posted 3 years ago in topic Energy

New York is taking Shell and four other oil giants to court for their role in climate change. The American city wants billions of dollars to prepare for the consequences of climate change.

Mayor Bill de Blasio has announced this.

The arrows are aimed at Shell, BP, Chevron, ConocoPhillips and ExxonMobil, as they are said to be the largest contributors to climate change in the world. According to New York, these companies have known about the effects of their activities on the climate for a long time and have long kept them under wraps.

New York claims to be the first major American city to take such a step. However, some smaller municipalities already preceded the metropolis.

Funds

De Blasio further announced that the five New York City pension funds, which manage $ 189 billion, will withdraw from fossil fuel companies. To date, they have invested about $ 5 billion in more than 190 such companies.

Shell reported in a statement to Bloomberg news agency that it did not see a solution through the courts. "We believe that climate change is a complex societal problem that should be combated by rewarding the green choices of businesses and consumers with good government policies and cultural change."

By: ANP Source: Nu.nl