• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home News

UK public wants oil giants to pay for climate damage, poll suggests

A survey has found widespread support for greater tax increases on record profits to pay for climate reparations.

Joe Connor by Joe Connor
2023-05-04 09:13
in News, Politics
FacebookTwitterLinkedinEmailWhatsapp

More than three quarters of UK adults believe it is wrong for oil and gas companies to make record profits without taking responsibility for damage to the environment, new polling suggests.

Shell has followed BP in announcing better-than-expected profits for the first quarter of this year.

It made nearly 1.7 billion dollars (£1.4 billion) more in profit than experts had predicted, while BP made around £500 million more.

Both companies have also reported record profits for the previous year because of the rise in oil and gas prices following the Russian invasion of Ukraine.

The announcements have sparked calls for a stronger windfall tax on their UK operations, with Labour’s shadow climate secretary Ed Miliband calling BP’s “enormous profits” the “unearned, unexpected windfalls of war.”

New polling by the charity Christian Aid suggests the UK public would back another tax on oil giants to support countries vulnerable to climate instability through a loss and damage fund.

As fossil fuel companies post record-breaking profits, the rest of the world posts record-breaking climate disasters. It’s time to #MakePollutersPay https://t.co/Gi7cdloUX9 pic.twitter.com/5d9SDjqyR7

— Christian Aid (@christian_aid) May 3, 2023

At Cop27 last year, world nations made a landmark agreement to set up such a fund which would see wealth transferred from richer to poorer countries to cover the cost of climate disasters.

However, the details on who exactly pays into the fund and who receives the support have yet to be agreed.

The Christian Aid polling, conducted by Savanta on 2,181 UK adults between April 21 and 23, found 63% of respondents would back the Government in taxing oil companies to pay for the loss and damage fund.

RelatedPosts

Forget WW3, GB News reckons smoky bacon crisps are the real problem facing the UK

MPs back legalising assisted dying in England and Wales

UK temperatures capable of reaching 45C in current climate, Met Office says

Pro-Palestine protesters break into UK air base and damage two military planes

Women and people above 35 were more likely to support such a tax than men and 18 to 34-year-olds, while 20% said the Government should not tax oil majors in this way.

Climate change protest
Climate protestors regularly target oil companies while opposition politicians have called for greater windfall taxes on their record profits (Victoria Jones/PA)

Only 6% disagreed with the statement that it is unfair for oil and gas companies to make record profits without taking responsibility for the damage caused to the climate, while 54% strongly agreed.

Patrick Watt, chief executive of Christian Aid, said: “Across the planet, it is the people who have done the least to cause the climate crisis who are facing the gravest climate shocks, and the damage that causes to harvests, homes, and human life.

“Record profits by fossil fuel companies like Shell and BP should be a wake-up call, and spur real accountability for the damage they are causing.

“That’s not just Christian Aid’s view, it’s the view of an overwhelming majority of the British public.

“The UK Government should be ensuring that major polluters meet their moral responsibility to repair the damage they have caused to the climate.”

You may also like: Sunak predicts ‘hard night’ for Tories as he faces local elections test

Tags: BPShell

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Local elections 2023: The councils to watch ← UK competition watchdog launches review of AI market
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->