Space Media Network Trade News Advertising

news.oilgasdaily.com
July 02, 2024

Experience augmented reality integration at Robodaily.com

UN experts challenge Saudi Aramco over climate change


Advertisement

Rover Updates
Latest trends in Mars rovers' exploration
Route relevant news to your team via AI
www.marsdaily.com
https://www.marsdaily.com/



UN experts challenge Saudi Aramco over climate change

by AFP Staff Writers
Geneva (AFP) Aug 27, 2023
UN experts have written to oil firm Saudi Aramco and its financial backers challenging them on allegations that their activities are fuelling climate change-related negative impacts on human rights.

A cache of correspondence was published Saturday on a United Nations human rights special procedures website, exactly two months after it was sent.

The letters said UN experts had received information "concerning Saudi Aramco's business activities... which are adversely impacting the promotion and protection of human rights in the context of climate change".

The allegations accused Aramco of "maintained crude oil production, exploration for further oil and gas reserves, expansion into fossil fuel gas, and misrepresentation of information", the letters said.

"Such activities have negative impacts on the enjoyment of the human right to a clean, healthy and sustainable environment."

The letters to Aramco and its backers were sent by a number of experts including the UN working group on human rights and transnational corporations, as well as UN special rapporteurs dealing with rights and climate change; a clean and sustainable environment; management of hazardous substances; and on safe drinking water and sanitation.

The UN experts also alleged Aramco's activities appeared to be "contrary to the goals, obligations and commitments under the Paris Agreement on climate change", which was signed in 2015 and set the ambitious target of limiting the world to a temperature increase of 1.5 degrees Celsius.

- 'Largest emitter' claim -

The UN experts claimed these activities were funded by Saudi Arabia's Public Investment Fund, as well as 11 major international banks, investment banks and firms, which also received similar letters.

Letters also went to the home states of these companies: Britain, France, Japan, Saudi Arabia and the United States.

Some of these letters were made public on Saturday.

The letters asserted that fossil fuels account for more than 75 percent of global greenhouse gas emissions, and cited reports claiming that over half of such emissions could be traced to 25 fossil fuel business enterprises, "with Saudi Aramco ranking as the largest greenhouse gas emitter".

"Therefore, through its historic emissions, it is alleged that Saudi Aramco has already significantly contributed to adverse climate change-related human rights impacts.

"The company's current exploitation of fossil fuels and proposed business plans will continue to cause adverse climate change-related human rights impacts."

UN experts are unpaid independent figures who do not speak for the UN but are mandated to report their findings to it.

- 'Significantly worsened' impacts -

Aramco's "refusal to reduce its production of oil and gas -- and continued exploration for more oil and gas -- contributes to the risk of overshoot of the 1.5C carbon budget, with resultant significantly worsened climate change-related human rights impacts".

The letter asked for Aramco's observations on 10 points, within 60 days, after which the letter and any response received would be made public.

No such reply from Aramco was on the UN human rights special procedures website early Sunday.

The largely state-owned Aramco is undertaking investments to ramp up national production capacity to 13 million barrels per day by 2027.

Aramco reported record profits totalling $161.1 billion last year.

Aramco is the main source of reve nue for Crown Prince Mohammed bin Salman's sweeping economic and social reform programme known as Vision 2030, which aims to shift the economy away from fossil fuels.

rjm/dhw

Saudi Aramco


Artificial Intelligence Analysis

Defense Industry Analyst:

8

Stock Market Analyst:

6

General Industry Analyst:

7

Analyst

Summary

:

In this article, UN experts have written to oil firm Saudi Aramco and its financial backers challenging them on allegations that their activities are fuelling climate change related negative impacts on human rights. The letters were sent by a number of UN experts, including the UN working group on human rights and transnational corporations, as well as UN special rapporteurs dealing with rights and climate change, a clean and sustainable environment, management of hazardous substances, and safe drinking water and sanitation. The letters claim that Aramco’s activities, such as crude oil production, exploration for further oil and gas reserves, expansion into fossil fuel gas, and misrepresentation of information, are adversely impacting the promotion and protection of human rights in the context of climate change. The UN experts also allege that Aramco’s activities appear to be contrary to the goals, obligations, and commitments under the Paris Agreement on climate change.

In the past 25 years, there have been significant events and trends in the space and defense industry related to climate change and human rights. These include the 2015 Paris Agreement, which set a target of limiting the worlds temperature increase to

  • 1.5 degrees Celsius, as well as the increasing public awareness of the dangers of climate change and the need for businesses to be mindful of the human rights implications of their activities. This article is a reflection of these trends, as it outlines the UN experts’ challenge to Saudi Aramco and its financial backers over climate change related negative impacts on human rights.

    Investigative

    Question:

    • 1. What specific activities are Aramco and its financial backers engaging in that are having a negative impact on human rights?

    • 2. How is Saudi Aramco misrepresenting information about its activities?

    • 3.
    What measures can be taken to ensure that Aramco and its financial backers are held accountable for their activities?

    4. What measures can be taken to ensure that Aramco and its financial backers are compliant with the goals, obligations, and commitments of the Paris Agreement?

    5. How has the increasing public awareness of the dangers of climate change impacted Aramco and its financial backers?

    This AI report is generated by a sophisticated prompt to a ChatGPT API. Our editors clean text for presentation, but preserve AI thought for our collective observation. Please comment and ask questions about AI use by Spacedaily. We appreciate your support and contribution to better trade news.


Wind at Your Back
Harness the power of wind for your needs!
AI news routing, giving your knowledge a gust!
www.winddaily.com




Next Story




Buy Advertising About Us Editorial & Other Enquiries Privacy statement

The content herein, unless otherwise known to be public domain, are Copyright 1995-2023 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement