Prince Charles has called on the City of London to help protect the environment by investing trillions of pounds into green investments which help create a sustainable economy.
In an interview with the Evening Standard the heir to the British throne said big businesses and City investors must drive a rapid decarbonisation of the economy before the environmental crisis becomes “a total catastrophe”.
(January 1, 1959)
The physicist Edward Teller tells the American Petroleum Institute (API) a 10% increase in CO2 will be sufficient to melt the icecap and submerge New York. “I think that this chemical contamination is more serious than most people tend to believe.”
(January 1, 1965)
Lyndon Johnson’s President’s Science Advisory Committee states that “pollutants have altered on a global scale the carbon dioxide content of the air”, with effects that “could be deleterious from the point of view of human beings”. Summarising the findings, the head of the API warned the industry: “Time is running out.”
(January 2, 1970)
Shell and BP begin funding scientific research in Britain this decade to examine climate impacts from greenhouse gases.
(January 1, 1977)
A recently filed lawsuit claims Exxon scientists told management in 1977 there was an “overwhelming” consensus that fossil fuels were responsible for atmospheric carbon dioxide increases.
(January 1, 1981)
An internal Exxon memo warns “it is distinctly possible” that CO2 emissions from the company’s 50-year plan “will later produce effects which will indeed be catastrophic (at least for a substantial fraction of the Earth’s population)”.
(January 1, 1988)
The Nasa scientist James Hansen testifies to the US Senate that “the greenhouse effect has been detected, and it is changing our climate now”. In the US presidential campaign, George Bush Sr says: “Those who think we are powerless to do anything about the greenhouse effect forget about the White House effect … As president, I intend to do something about it.”
(January 2, 1988)
A confidential report prepared for Shell’s environmental conservation committee finds CO2 could raise temperatures by 1C to 2C over the next 40 years with changes that may be “the greatest in recorded history”. It urges rapid action by the energy industry. “By the time the global warming becomes detectable it could be too late to take effective countermeasures to reduce the effects or even stabilise the situation,” it states.
(January 1, 1989)
Exxon, Shell, BP and other fossil fuel companies establish the Global Climate Coalition (GCC), a lobbying group that challenges the science on global warming and delays action to reduce emissions.
(January 1, 1990)
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(January 1, 1991)
Shell’s public information film Climate of Concern acknowledges there is a “possibility of change faster than at any time since the end of the ice age, change too fast, perhaps, for life to adapt without severe dislocation”.
(January 1, 1992)
At the Rio Earth summit, countries sign up to the world’s first international agreement to stabilise greenhouse gases and prevent dangerous manmade interference with the climate system. This establishes the UN framework convention on climate change. Bush Sr says: “The US fully intends to be the pre-eminent world leader in protecting the global environment.”
(January 1, 1997)
Two month’s before the Kyoto climate conference, Mobil (later merged with Exxon) takes out an ad in The New York Times titled Reset the Alarm, which says: “Let’s face it: the science of climate change is too uncertain to mandate a plan of action that could plunge economies into turmoil.”
(January 1, 1998)
The US refuses to ratify the Kyoto protocol after intense opposition from oil companies and the GCC.
(January 1, 2009)
The US senator Jim Inhofe, whose main donors are in the oil and gas industry, leads the “Climategate” misinformation attack on scientists on the opening day of the crucial UN climate conference in Copenhagen, which ends in disarray.
(January 1, 2013)
A study by Richard Heede, published in the journal Climatic Change, reveals 90 companies are responsible for producing two-thirds of the carbon that has entered the atmosphere since the start of the industrial age in the mid-18th century.
(January 1, 2016)
The API removes a claim on its website that the human contribution to climate change is “uncertain”, after an outcry.
(January 1, 2017)
Exxon, Chevron and BP each donate at least $500,000 for the inauguration of Donald Trump as president.
(January 1, 2019)
Mohammed Barkindo, secretary general of Opec, which represents Saudi Arabia, Kuwait, Algeria, Iran and several other oil states, says climate campaigners are the biggest threat to the industry and claims they are misleading the public with unscientific warnings about global warming.
The prince said green investment has “suddenly taken off” because the returns on sustainable projects are now better than those for fossil fuels.
“The money is now at last beginning to become available … because there are trillions of pounds out there, particularly in the private sector [which can now potentially be harnessed to drive real change]. The key is the private sector, which has to lead, then you can create a partnership with the public sector,” he said.
He said: “The problem that I’ve found is that after 35 to 40 years of trying my best with corporate, social and environmental responsibility with the private sector, and countless seminars and workshops, trying to get people to recognise the huge challenges we face, we could never actually crack the real problem, which was the lack of the real understanding on the part of the financial services and capital markets sector to understand why there was such a need to invest.”
He added it was now “more critical than ever” for the private sector to look for sustainable investments which direct money to the most effective sustainability projects.
“Whether it is regeneration, reforestation, sorting out fisheries and ocean issues to make them more sustainable. Or agriculture and how to rebuild soil fertility – which is completely degraded around most of the world – because if you can get the soil fertility back again, you can capture carbon much more quickly,” he said.
The prince spoke to the Evening Standard in Tokyo during his visit for the enthronement of Emperor Naruhito. His visit took place less than two weeks after Typhoon Hagibis hit Japan, causing at least 80 deaths and underlining the need for governments to prepare for extreme storms, now more likely because of global heating.
