to football tournament, to go ahead despite the current of ours and demick, the 10 nation event is due to kick off on sunday at the national stadium in brazil . ya. that happened 3 attempts to secure a co order to block the tournament. you took over 19 supreme court judges have rejected to them and i expected to throw out a 3rd a this is officer at these, a huge help stories. u. k prime minister boris johnson says g 7 nations is set to pledge 1000000000 corona virus vaccines to low income countries. he spoke on the eve of the lead of summit hours of us. president joe biden promised 500000000 doses by mid 202-2200 1000000 of these doses will be delivered. this year 2021 and 300000000 more. we delivered in the 1st half of 2022.

let me be clear. just as what the 80000000 doses we previously out the united states is providing these half 1000000 doses with no strings attached. let me say it again with no strings attached. are vaccine donations don't include pressure for favors or potential cassette concessions. we're doing this to save lives, to end this pandemic. that's it. period. the united nations as warning that 350000 people in ethiopia as t gray region are either facing or living in famine. conflicts began in november 1 if you're appeal government forces enter the area agency, say 5000000 people in the verge of famine unless they get urge and humanitarian aid president and manu macros announced the reorganisation of france's military presence in this region of west africa. 5000 french soldiers have been deployed to fight arms groups linked to al qaeda in iso france recently suspended corporation

with molly and army following a qu, israeli police advise don grenades and take ass palestinians in ocoee parties. jerusalem followed the visit a far right politician, calling for a march through the old city. authorities say it can go ahead next week if the route is changed. the video has emerged said to show guards, assaulting, shackled palestinian prisoners in israeli. joe, the heretic newspaper says and security footage from march 2019 shows more than 50 inmates allegedly linked to her mass being dragged to the floor and beaten. the paper says only 4 of the 10 guards are being investigated over the incident at the prison in the southern region. those the headlines inside story coming up next day with us news,

news, news, news. we will change our energy strategy. the words of royal dutch shell following a court ruling forcing it to cut its emissions a clear victory for environmentalist. what does it mean for the oil and gas industry? this is inside story. ah, ah. hello and welcome to the program on pete adobe. it is a landmark case brought by climate campaigners for the 1st time, an oil giant has been legally obliged to adjust its policies to save the planet.

british dutch multinational shell now says it plans to speed up its plans to cut greenhouse gas emissions in response to the ruling last month. the company was ordered by court in the hague to reduce emissions by 45 percent by the 2030. that's a much higher reduction than the firm's pledge to lower its emissions by 20 percent . the lawsuit was filed in 2019 by 7 activist groups and more than 17000 dutch people. environmentalists say shell is obliged to bring his business into line with the 2015 paris climate accord. the shell, c, e o ben van de burden so that the company will appeal against the ruling he added. for show this ruling does not mean a change, but rather an acceleration of our strategy. we have a clear target to become a net 0 emissions business by 2050. we will see ways to reduce emissions even further in a way that remains purposeful and profitable. well,

an estimated 1800 lawsuits related to climate change being fought over in courtrooms worldwide. and climate activists are preparing to take on even more companies, environmental groups and local authorities in france. so filed a case targeting total energies. major oil companies are also making changes as they come on to growing pressure to cut their emissions, chevron investors the voted in favor of a proposal to cut its emissions while shareholders at exxon elected to climate activists to the company board. well, the industry is operations are estimated to account for 9 percent of all human made greenhouse gas emissions. that includes me thing that poses a global warming threats more than $25.00 times greater than that of carbon dioxide . oil is estimated to release one 3rd of the world, carbon emissions when burned, while gas produces one 5th. the drilling method of fracking is known to contaminate

drinking water sources with chemicals that lead to serious health diseases. there's also the risk of oil spills that have a devastating impact on marine life. an explosion as a b p oil, reagan, 2010 release. more than a 130000000 gallons into the gulf of mexico, causing one of the world's worst environmental disasters. ah, okay, let's get going. let's bring in our guest in amsterdam. we have minute the potter lead campaign at friends of the earth in the netherlands in burn. we have connie, the maya, and economist, and energy analyst, and in rome, we have lorenzo. feel a monte professor political economy of the university of pretoria and author of well being economy success in the world without growth. welcome to inside story, nina and i'm that i'm coming to you 1st. does this mean that the big polluting companies around the world, the companies around the world who are taking chunks out of the ozone now in effect, have a duty of care to all of us?

yes. yeah. i think many we showed with our, with our case against sheldon, the a big producer such as show can no longer continue crossing dangerous climate change . and this is very strong signal also to the other companies that are responsible for a lot of emissions. clearly a maya there in the national courts legislative internationally because that's an effect, i guess what we're talking about the business is that good or bad? well, it's new. i mean it's something that has happened in the us for some time. it's really not happened that much in europe, but a decline was fly me a change debate is a global thing. so we shouldn't be surprised that it's happening. it's going to be tough for companies to comply. and, you know, sometimes it's very much a 1st world thing. it's easy to see how this can work in the 1st world. we also

need to look very hard at what it means in the emerging economies and what it means, you know, for energy poverty. and so on, lorenzo in room will we expect to be able to see more litigation around the corner . but i mean, it will be a long, slow process. presumably we're talking about a time span of years here, but it will happen, i guess. of course it will, i have to congratulate the dutch courts. this is not the 1st time they do it in 2015. the netherlands was the 1st country that accepted a lawsuit from environmental organizations against the government for not doing enough against climate change. that was the 1st time and, and after that, thousands of course, around the world, the done the same and you learned in parts of the united states and so on and so forth. now we're taking, you know, they've taken on companies and i think it's going to happen again. and again, if you think about the fact that they started in 2015 and in 2021, they were ready rule on a number of levels that things have to change. and that both governments and

companies have a direct responsibility to words, the rights of citizens in this field. i think it's not going to be a long process. they're being quicker than politics. nina, thank you. and i'm that i'm there. is it your understanding of this that this rolling only applies within europe because global warming doesn't respect borders. global warming doesn't respect different jurisdictions. and i guess that's the problem for the courts and the companies that we're talking about and international governments as well. yeah, i think that's something that we acknowledge in our, in our case against shell and also the judge. but villages climate change is not something from within borders. it's a global phenomena and especially the impact is of course being seen already in the global. so although the courses are mainly in the global north, and that's also why does this such an interesting and such importance for it

because it applies michelle for the room. so shell has to reduce its emissions with 45 percent globally on average. lovely, so maybe shell will move the foster in europe and a slower in other places in the rope, but on average 45 percent into the us 30, which is a big step. but it is also a necessary step because this is what science needs to be done to avoid dangerous climate change. so it is a global hoarding, although it is done in the netherlands. and that's a big question. that's a big step forward in, in our fight climate change. and therefore, i think it's it, although the headquarters of these companies are often in europe in the us. but their impact is globally as well as this. the verdict. cornelia speculate for me after your appearance on this program you're offered and you accept the job as c, e o x on. in america. you know,

run the company. exxon is well known as having been a climate change deny, or they spent a long time as a corporate strategy saying it's not real. don't worry about it. how do you tweak an all to exxon, to make it come in behind? what the oil and gas industry has to become? well, i think that's a very good question and it goes up at one thing because the european companies have actually been quite good. if i look at shell shell wasn't one of the 1st companies that didn't just look at their c o 2 emissions, but also looked at the c o 2 emissions off their clients. b, p has gone down that road recently and to tell us going down that route. and the european companies really, we vamping the all companies to become, you know, energy companies to do more renewables and so on. and the american companies are really lagging behind. so if i was exxon, i would work very,

very closely with the european companies just to get the right measures in place to do more in terms of beefing up of redefining myself away from an oil company to an energy company. this being said, you know, it's great. i was one of the things i'd like to see is that we look a little bit more and not just that at, at the overall impact. but we should also look at the environmental impact of uses and sources of energy for the full life cycle. so i would like to see what to e. v. 's electric vehicles, for instance. what does that mean from, from, you know, designing them through decommissioning, them? and i think there's still a lot of work to be done in order to really look at what the impact of various energy sources and use the saw over the full life cycle. not saying that we all need to change it, we all need to adhere to the 1.5 degrees centigrade over pre industrial level. some

of global warming, lorenzo for poorer countries, will countries that asset rich when it comes to fossil fuels, oil, gas, and coal, etc. but they are fiscally, in a, a precarious situation. i'm thinking about countries like say, nigeria, is this actually a curse for them because their entire economy will 8090 percent of the economy is based on oil gas? no, it's not a curse. we have to realize the fact that many of these countries have been oppressed and in a way abused by these companies. i mean, otherwise major would be now a very rich country. so these countries, nigeria, mozambique, and i know this country has like 20 years in africa. none of these countries such as gain out of this, christy pollution and destruction, and the quantities have generated contradictions. just like to remind everyone that lawanda and gold as one of the most expensive cities in the world and gardens

cannot afford to have no wonder. because all companies are basically pushing up the prices. and in school, a country bare and equal ravaged by a conflict and so on and so forth. mozambique is having now a reemerging civil war because of gas exploration and shell too tall you and i are at the forefront of that process. so these countries didn't get a good deal out of this. now the question is, can we get a good agreement internationally that as we move out of oil, we're also going to pay reparation costs to countries that have to bear the burden of the wrong source of energy without benefiting directly from it. so i think, i think it's an opportunity to help these economies diversified. they have suffered from what is known as the dutch disease. you know, the oil and the, the gas and outer natural resources have been a court, a curse, not a blessing for these countries. and that's an opportunity to change, so let's not present it as, as a risk. but these countries,

this countries have already paid a high price from having been exploited because of what lies under their breath. nina, do you trust the other oil companies around the world? the oil companies, the gas companies, and i guess the, the companies that are still involved in coal mining and fracking as well to do the right thing. because can i suggest you, nina, that the shell, the royal shell, c e o actually got it right. when he said, look, we cannot do this quickly because if we stop taking the oil out of the ground, the demand is still going to be there. so somebody else will meet that demand. yeah, i think this is a very difficult topic to address because we cannot look into the future. although we tried all the time. we are seeing that building up the pressure on fossil fuel companies, not just shell, but also the other prices and national companies are being put under pressure, increased pressure. so this was, this was

a historic verdict that mil, indeed lead to shell having to change your business. and maybe other companies are interested in their assets. but let's not forget that all of the almost of the countries in real time, 3 months are almost over the countries in the rural want to avoid dangerous climate crushes to occur. so there are 2 things changing and this verdict can be a very important assimilation of this transition. so other companies might think in a very short term, they could win from this. but if we look at the global transition that is going on, then, then all the oil and gas companies really have to take a step back and look at their business model. is this a sustainable business model? can they continue going on like this? not in the long term we, we need to move away from oil, gas and goal. they know it, they know they've done it for a very long time. all these companies try to be the last man standing. but this

verdict shows that that is no longer possible, not for shell, but also enough for other companies that might be the next one going to that, that, that are suit. and hopefully they will avoid having to go to court and change their business model already. or government will, will take their responsibility and say no longer within our borders. cornelia, depending upon how individual organizations react over the next year or 2 or 3 perhaps. could this be a win win for the big multinational oil and gas companies? shell share price went up. that feels counter intuitive. i would guess that if a ruling goes against the company, the share price should go down. but if they handle it properly, they can actually make money out of this because surely the price that the pump. when i go fill up my car, the price of the pump might go up and also the price per barrel as an opec level

might go up. as well, while i would say that the reason fail and all other oil company share price is going up. expect you seen this year alone. all prices to go up by more than 6 step by more than 35 percent. and if you compare it to a year ago, it's a 100 and something percent. so that's that. and i look at the european company said they've actually been quite responsible and they have all b, b, p, b, it thought, who is now no longer want to call it thought back in l g, b, a shell, they are redefining themselves as energy companies doing a lot more on on renewables. the one thing where i'm a bit concerned isn't and this works again. it works for the 1st world. but i'm a bit concerned if i look at the, at the, as you know, developing economies who still, you know, who still have, and she, you know, poverty in many places. how can we go that quickly just substituting for

hydrocarbons? we may not be able to. so we need to find a way, a way of getting there. and just one quick remark when you say that when one of you guess that's all the oil companies have exploited these countries. i think if you look at shell, if you look at b p to have been trying very, very hard to be responsible corporate citizens. but a lot of it is down to the leads of those countries. one not always doing the best for their populations. lorenzo. you smiling and shaking your head, their joints briefly come back on that point from cornelia. and i don't want to be disrespectful, but i think we live in 2 different worlds. i mean, just in africa there have been civil worse, and there have been acts of social rebellion against the exploitation of the night during the niger delta for instance, nigeria for centuries. and previously. and now, since at least 1960 s,

against all companies doing so against show in particular, this is the history of nigeria. i'm surprised that a lot of people in perhaps in the rest of the world and know this. i mean, people have been executed for rebelling against oil fuels run by european companies . and the same happens in many countries, as i said now as we speak, there is the emergence of the civil war in muslim be. the country had been pacified after civil war. the eighty's and ninety's, and it's because of gas explorations and again, all exploited by european companies. these companies have already been indicted ever ready? been convicted so many times for many different activities. and now finally, there is a verdict that says you can also be convicted for not doing enough to reduce palmer changed, which is a threat to every one. and i think one of the reasons why some of these companies will see their shares increase in value is because a lot of people, consumers, as well as shareholders,

are understanding that the future of energy is without oil. so the quicker you change, the more valuable the company will be at some point, and this is not me saying this, this is the stern review. this is the world bank. this is the math companies that own oil, oil, oil reserves, will have spread absence. you know what that means. it means liabilities. it means that you're going to actually, it's like having something that you're going to have to pay for, not something that is valuable in the market. and a lot of investors are realizing this lorenzo, i'll come back to you on that point about consumption habits in just a moment. i want to go back to nina to potter in amsterdam, nina, quantify for me. what's really going on here. we've got more than $400.00 cases like this, around the world, excluding the united states and the columbia law school today with the financial times on their website, making the point that in the united states alone, there are almost 1400 similar cases. so going, going through the american legal systems that $1617.00 other cases around the

planet. so something is changing here. we are pushing back either as individuals or 3 groups like yours. so quantify for me what that is. what is happening here think that the kind of movement is strong, is getting stronger and stronger. also to records. we see that governments are not doing enough, not protecting our us citizens against drunk prices. and therefore, people decided to take the take their own future and say no lot, we don't want any more. we are going to court because it's about our future. and i'm still young, so it is actually about my future. so all this climate or gauge, this, of course, to gather date, can be extremely effective, but also the individual launch. we were the 1st ones that were successful against the price company and, and making sure that

a company needs to change the policy. we also see a lot of court cases where compensation for damages is off. i think those cases are especially important for people in the global south that are facing this damages already. and we seek a against the governments. all of these cases together show that we are concerned, and we know we, we, you don't want to go to court. going to court is one of the last resources. but we are at that, at that point. how does the crisis just so it's, it's so real that we have to do this measures ok, and that's growing. and success needs to more cases. but if i, if i, if i can, i would like to respond quickly to what is said earlier about the companies in europe. are the judge, make very clear that the show is not doing enough? and i hear men, i always hear this, but shell is doing better than the actual or the european companies are,

are already doing more to become more sustainable. i think there must be very good in talking to green talk, but the actions are left behind. ok, and that's i think something that this proof this in discourse. i mean i'm going to interrupt you because we are rapidly approaching the end of the program, lorenzo in room. let's go back to that idea of consumption habits. clearly people, we all of us on the planet forgot to change how we do, what we do. anyone who's lived and worked in america. good luck with trying to get people out there, s u v. 's and their 3 ton trucks. if you live and work in the middle east, like i do, you try and get people out of their toyota land cruises or their nissen pathfinders not going to happen until the oil and the fuel runs out. who does it? and how do you do it? how do you get people into electric smart cars?

i think the question is not whether you need to replace one type of car with another type of car, although easy cars are better down in internal combustion cars. but i think the question is, is the type of mobility we want? what is lacking in the united states is a public investment on public transportation. i think those of us who live in europe live happily also the wealthy without owning a car and life is just better. we don't feel less developed in the us because we don't use personal cars as, as much as they do. and i think, i think it's a matter of rethinking what it means to be a, you know, a developed country of all the country is a country that does better, not the country that does more spending hours and hours in the traffic jam is not a sign of development and i think our friends from the goals are friends from the other side of the atlantic should understand that the more we invest in public transportation, the more we do so efficiently when you technology with different vehicles using electric as much as possible and rightly using electric that is based on good life cycle assessment. ok, we all have all the technologies and methods will actually be build

a better society. cornelia, coming back to us the spectral, last point. the pressure is mounting in the oldest of quarters. i noticed today that the, the church of england man who runs the church of england pensions board, which has a financial income with shell, is saying, actually this is really, really good news. is it your sense, cornelia, that this is a complete step change in the narrative to do with global warming, and it simply cannot be denied and it must be dealt with? absolutely, and i think what do you look at when you look at e s t investment e s t investment environmental, social and governance comp compliant investments? it's the fastest growing asset class in the world. and that's where investors are moving by 2025 more than 50 percent of all, you know, professionally managed money in the, in the u. s. for instance,

which was the laggards will be e s, g compatible. so the, and that's really where this is going to, and that is also where the court would take this going to if, if, if m companies do not become compliant with court, we're a big sways the with new standards. it will be hard to attract investment, but then again, one of the things i just would like to say, and i'm glad our, our colleague from italy said that is that we also need to look at the full life cycle investment. because it's so easy to say o e v spectrum, this is better. we really need to look at what this means in terms of the full life cycle of any use or any source of energy. we have to leave that discussion there. that's a good point to end our thoughts today. thank you all. thank you to, i guess they were nina potter, cornelia maia, and lorenzo viola monte. and thank you to for your company. you can see the show again via the website of course out as your dot com. and for more discussion check on our facebook page, that's facebook dot com,

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