Fossil fuel firms owe climate reparations of $209bn a year, says study

The world’s top fossil fuel companies owe at least $209bn in annual climate reparations to compensate communities most damaged by their polluting business and decades of lies, a new study calculates.

BP, Shell, ExxonMobil, Total, Saudi Arabia’s state oil company and Chevron are among the largest 21 polluters responsible for $5.4tn (£4.3tn) in drought, wildfires, sea level rise, and melting glaciers among other climate catastrophes expected between 2025 and 2050, according to groundbreaking analysis published in the journal One Earth.

...Mohamed Adow, director of Power Shift Africa, a climate and energy thinktank based in Kenya, said: “The case is clear for oil and gas companies to pay reparations for the harm their fossil fuels have caused. Not only has their dirty energy wrecked the climate, they have [in many cases] spent millions of dollars on lobbying and misinformation to prevent climate action.”