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Monday, June 17, 2024

BP’s Planet Destroying Profit Shows Need for Watertight Windfall Tax

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Fossil fuel giants like BP are destroying our planet in the name of profit, say the Scottish Greens, who warn that the UK Government’s failure to impose a meaningful windfall tax means more radical action is needed.

The party’s climate spokesperson, Mark Ruskell, was speaking as BP reported eye watering profits of £11 billion for 2023.

Mr Ruskell said:

“BP executives may be celebrating, but our climate is suffering.

“They are destroying our planet in the name of profit while families are being plunged into fuel poverty.

“We urgently need to move on from oil and gas, rather than allowing fossil fuel giants to keep burning our future. 

“One way that we can help to fund the shift is via a real and watertight windfall tax that is fit for purpose and that can be reinvested in the green technology that is so urgently needed. 

“The UK government’s total failure to properly tax polluters means far more radical action is needed.

“Now is the time to be ambitious.

“We need major green investment plans both nationally and internationally.

“That is the only way we can halt the damage that is being done.

“We are seeing climate chaos around the world, but these companies are laughing their way to the bank while governments like the one in Westminster are giving out even more drilling licences.

“We can’t keep having year after year of eye watering profits for fossil fuel companies.

“Our planet simply can’t cope with it.

“We need all hands on deck if we are to turbo charge our just transition to the renewable jobs and industries of the future.”

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