{"id":41931,"date":"2015-10-14T09:27:59","date_gmt":"2015-10-14T07:27:59","guid":{"rendered":"https:\/\/www.sonnenseite.com\/economy\/global-climate-movements-seek-fossil-fuel-company-transparency-on-future-viability-of-oil-coal-gas.html"},"modified":"2015-10-14T09:27:59","modified_gmt":"2015-10-14T07:27:59","slug":"global-climate-movements-seek-fossil-fuel-company-transparency-on-future-viability-of-oil-coal-gas","status":"publish","type":"post","link":"https:\/\/www.sonnenseite.com\/en\/economy\/global-climate-movements-seek-fossil-fuel-company-transparency-on-future-viability-of-oil-coal-gas\/","title":{"rendered":"Global Climate Movements Seek Fossil Fuel Company Transparency on Future Viability of Oil, Coal, Gas"},"content":{"rendered":"<p>Global reporting standards for extractive industries must include transparency from fossil fuel companies about the future viability of their oil, coal and gas projects in a warming world, says a large movement of environment, climate and indigenous peoples organisations.<\/p>\n<p> <!--more--> <\/p>\n<p>With only weeks until the Paris climate talks, hundreds of  organizations from around the world (see list below) are addressing the  Oslo-based Extractive Industries Transparency Initiative (EITI), which  sets standards for good governance in the extractive industries. The  groups, including Oil Change International, the Heinrich B&ouml;ll Foundation  and the Climate Justice Programme, have written to the EITI, seeking  amendments to the global reporting standard to include risks related to  climate change.&nbsp;<\/p>\n<ul>\n<li><a class=\"insertasset\" href=\"https:\/\/www.boell.de\/sites\/default\/files\/uploads\/2015\/10\/eiti_d-final_en_15_10_12.pdf\" title=\"letter to the board of the Extractive Industries Transparency Initiative (EITI)\">letter to the board of the Extractive Industries Transparency Initiative (EITI)<\/a><\/li>\n<li><a class=\"insertasset\" href=\"https:\/\/www.boell.de\/sites\/default\/files\/uploads\/2015\/10\/eiti_d-final_german_12.10.15.pdf\" title=\"Brief an den Vorstand der Extractive Industries Transparency Initiative (EITI) \">Brief an den Vorstand der Extractive Industries Transparency Initiative (EITI) <\/a><\/li>\n<\/ul>\n<p>&ldquo;This letter outlines a wide range of concrete steps that would  further public debate about the dangers of continued carbon investment  and how to stop it&#8221; said Naomi Klein, author of This Changes Everything  and The Shock Doctrine. &#8220;For the fossil fuel industry, there can be no  transparency without a full airing of how its business model risks  locking us in to catastrophic warming&rdquo;.<\/p>\n<p>&#8220;There is no question that it is past time for the EITI to consider  the climate implications of its work.&rdquo; said Stephen Kretzmann, Executive  Director of Oil Change International. &ldquo;An EITI that doesn&#8217;t cover  climate is like a Health Commission looking at smoking, and ignoring  cancer. If the EITI wishes to remain relevant in policy circles, it  should move quickly to make climate risk a central part of its mandate.&#8221;<\/p>\n<p>Mark Campanale, Executive Director and Founder of the Carbon Tracker  Initiative welcomes the move, saying: &ldquo;At the heart of the business  model of fossil fuel extractive companies is the presumption that all  known reserves are there to be developed and burnt.&nbsp; This is their core  business risk and the climate networks are absolutely right to highlight  it as a material financial risk, which is absent from the EITI.  Extractive fossil fuel companies should now disclose how their business  plans are compliant with a 2 degree future and how they will properly  manage their inevitable contraction.&rdquo;<\/p>\n<p>Lili Fuhr, Head of Ecology and Sustainable Development at the Berlin  based Heinrich B&ouml;ll Foundation said: &#8220;We are very pleased to see this  strong call for leaving unburnable coal, oil and gas in the ground from  such a broad and strong civil society movement. Resource rich but poor  countries and their citizens should have transparent and comprehensive  information to decide on a sustainable and equitable future development  pathway. A reformed EITI taking into account climate risks could  contribute significantly towards that objective.&#8221;<\/p>\n<p><strong>Background:<\/strong><\/p>\n<p>The groups define &lsquo;climate risk&rsquo; as economic and investment risks  associated with the drop in demand of oil or coal, or the risk of policy  reform that would phase out fossil fuel use in favour of renewable  energies. They also identify the increasing risks associated with  litigation against the fossil fuel industry for its role in contributing  to climate change and the efforts of some to spread disinformation  about climate change to prevent policy reform.<\/p>\n<p>The <a href=\"https:\/\/eiti.org\/glossary#Extractive_industries\">Extractive Industries Transparency<\/a>  Initiative (EITI) is a global Standard to promote open and accountable  management of natural resources.&nbsp; It seeks to strengthen government and  company systems, inform public debate, and enhance trust.&nbsp; In each  implementing country it is supported by a coalition of governments,  companies and civil society working together. Countries implementing the  EITI disclose information on tax payments, licences, contracts,  production and other key elements around resource extraction.<\/p>\n<p>The EITI currently has 48 implementing countries and engagement from  the biggest fossil fuel companies in the world, Shell, BP, BHP Billiton,  Rio Tinto, Exxon, Chevron, Statoil and Total are represented in the  international Board of the EITI.<\/p>\n<h5 class=\"green\">Source<\/h5>\n<p><a href=\"https:\/\/www.boell.de\/en\/2015\/10\/12\/re-climate-change-and-extractive-industries-transparency-initiative\" target=\"_blank\" rel=\"noopener noreferrer\">Heinrich B&ouml;ll Stiftung 2015<\/a><\/p>\n<div class=\"shariff shariff-align-flex-start shariff-widget-align-flex-start\"><div class=\"ShariffHeadline\">Diese Meldung teilen<\/div><ul class=\"shariff-buttons theme-round orientation-horizontal buttonsize-medium\"><li class=\"shariff-button facebook shariff-nocustomcolor\" style=\"background-color:#4273c8;border-radius:1%\"><a 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