The data they’re seeing has been public for ages; if we want to stabilize temperatures at 2°C above pre-industrial, it means leaving the bulk of proved reserves of coal in the ground, as well as half or more of proved oil and gas reserves, along with taking action on fluorinated gases and non-fossil-fuel sources of methane. This means that success for climate action will require shutting down the oil and gas industry before they can pay back long-term loans. They’re responding to the evidence that the political power to do so is starting to accrue to climate activists.
The data they’re seeing has been public for ages; if we want to stabilize temperatures at 2°C above pre-industrial, it means leaving the bulk of proved reserves of coal in the ground, as well as half or more of proved oil and gas reserves, along with taking action on fluorinated gases and non-fossil-fuel sources of methane. This means that success for climate action will require shutting down the oil and gas industry before they can pay back long-term loans. They’re responding to the evidence that the political power to do so is starting to accrue to climate activists.