Now BP makes record profits

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Hi John,

Another week, another record payout for a fossil fuel corporation. Today, BP announced the highest profits in its history: £23 billion. While climate-related disasters wreak havoc across the globe, and many in our own society must choose between heating their home and eating, BP has handed £12.5 billion to its mostly very wealthy shareholders.

Worse still, BP has scaled back its ‘transition’ away from fossil fuels. It seems oil and gas is just too profitable. In fact, the big five oil majors poured money into fossil fuels last year – far in excess of anything they invested into renewable energy, even by their own dubious definition of that term.

The message is clear. As long as it’s profitable to pollute, these corporations will continue to do so, whatever the cost to the rest of us. The only way we can stop this deadly cycle is to intervene, and we can start by taxing corporations like BP, forcing them to pay to deal with the damage they are visiting on the lives and livelihoods of people around the world.

Can you help us turn the outrage we all feel today at this shameless profiteering into political pressure for change by joining our campaign?

Make polluters pay for their climate damage

Last year, countries agreed at long last to set up a climate loss and damage fund, compensating those who are suffering unpreventable damage from climate change in the global south. Now we need to make sure the fund is properly paid for – by the very polluters who caused the problem.

Corporations like BP have emitted far more carbon emissions over their existence than most countries on earth combined. It is estimated that BP was responsible for as much as £8.3 billion of loss and damage in the global south in 2022 alone. We need to tax these companies to pay for the severe damage they’ve caused, and we need to tax and regulate them to stop them doing further damage in the future.

The anger directed at the fossil fuel corporations is intense, and with good reason. But all Rishi Sunak’s government is offering is a ‘too little, too late’ windfall tax on just these latest profits. We need a permanent polluters tax that can change the rules of the game.

The campaign to make polluters pay is growing with every round of bumper profits that’s announced. We need to use this moment to keep the pressure building. Can you join our campaign to make polluter pay?

Add your name

Thank you,
Nick Dearden
Director, Global Justice Now

More info

1. Green campaigners accuse BP boss Bernard Looney of rolling back climate promises, Independent, 7 February 2023
2. REVEALED: Big Oil owes $8 trillion in climate damages, Daniel Willis, Global Justice Now, 9 November 2022  
3. Sunak’s windfall tax is a ‘sticking plaster’, say climate campaigners, Guardian, 26 May 2022 
4. The historic loss and damage victory at COP27 was thanks to the unity of developing countries and civil society, Dorothy Guerrero, Global Justice Now, 23 November 2022 

Powerful multinational corporations are continuing to fuel and profit from the climate crisis.

By coming together to challenge them, we can make a difference.

Regular gifts give us the long-term stability to plan effective campaigns, as well as the flexibility to react to key events.

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