Big Oil’s historical debt uncovered
European oil majors have made huge profits on the back of €13 trillion in unpaid health and environmental costs
The Rio Summit in 1992 was the first time that countries decided to act on development and the environment. However, since then the activities of the European five Big Oil companies (BP, Eni, Repsol, Shell, and TotalEnergies) have resulted into enormous societal costs through pollution, deteriorating public health and carbon emissions.
On behalf of T&E, the research institute Profundo has quantified the profits of the five oil majors since 1993 and their unpaid health and environmental costs.
Related Articles
View All
What the Electrification Action Plan means for transport
T&E's in-depth review of the EU Commission's Electrification Action Plan
EU backs electrification to make Europe more secure
EU Commission identifies grids as a bottleneck for electrification, promising to standardise vehicle-to-grid (V2G) technology
EU takes half-hearted step towards taxing international flights
Extension of ETS to some international flights, private jets and to smaller ships are steps forward, but overall weakening of the ETS undermines Europ...