From Femi Mustapha, in Kaduna
The African Network for Environmental and Economic Justice (ANEEJ,) has expressed dismay over the attitude of the Norwegian Oil Fund and other stakeholders in Norway, in putting profit above responsibility for climate change in oil-affected communities in the Niger Delta.
The Executive Director of ANEEJ, Rev. David Ugolor said this yesterday during a 3rd People’s Annual General Meeting held in Warri, Delta State.
In a statement made available to the media in Kaduna, Rev. Ugolor said Shell’s climate plan is as full of holes as its promises to Niger Delta communities, noting that the Norwegian Oil Fund is failing to challenge Shell’s directors at the AGM, and this undermines the faith of people in Norway’s officials.
According to him, arising from the outcome of the AGM and associated media work coupled with the actions and activities of other stakeholders, the Church of England, a major shareholder in SHELL and other oil companies, decided to stop funding Shell and other oil and gas companies which are failing to show sufficient ambition to decarbonize in line with the aims of the Paris Agreement.
Instead, the church refocused its efforts on reshaping the demand for oil and gas from key sectors such as the automotive industry.
Rev. Ugolor said that more investors like the Dutch healthcare pension fund PFZW have also dumped some oil companies for lack of credible climate strategy.
Europe’s third largest pension fund, he said, has now sold €2.8bn of its holdings in oil groups including Shell, BP, and TotalEnergies.
“Despite these successes, investors are yet to visit the Niger Delta region for a fact-finding mission. Shell and other multinational oil companies recently announced their divestment plan from on-shore operations in the region and the sale of on-shore facilities. We should agree on how to respond to this announcement and the Nigerian government’s position on the issue.
“The Ogoni clean-up effort remains at a slow pace and stakeholders are worried about the unending drama. We are aware that many remediation contracts have not been executed even though the contractors have collected 30% of the contract sum.
“This is unacceptable and we should speak out against it and ensure that they commence work immediately to refund the money they collected.
“It will interest you to know that a few days ago, the Peoples AGM expressed deep concern over the announcement by Norges Bank Investment Management (NBIM), one of the largest shareholders in Shell that it will vote for the re-election of all Shell directors at the 2024 AGM scheduled for May 21, 2024.
“Additionally, it will not join the 27 institutional investors which filed a resolution calling for Shell to align its climate targets with the Paris Agreement. The decision shows the Fund is putting profit above responsibility to our climate and to oil-affected communities,” he said.
Speaking on the 3rd AGM, the ANEEJ Executive Director said, “This year, ANEEJ and other Stakeholders decided to hold the 3rd people’s AGM here in Warri, Delta State, in the Niger Delta region where all the activities of Shell and others have immeasurably destroyed the lives and livelihoods of the people of the oil-rich region and brought them into abject poverty, as we plan to sustain the pressure on oil companies and their investors to do the right thing.”
Similarly, in his remarks, the Senior Campaign Lead at Sunrise project, Tonny Nowshin, said that the campaign is a fight for justice as it involves one of the most powerful corporations in the world.
According to him, what makes it more difficult is how big investors back these companies by supporting them financially.
Mr Tonny however said that regardless of the challenges faced, they as a team will not give up and continue to fight against the corrupt practices of the Companies adding that ANEEJ has inspired them to stand up to the challenges.
“The fight you are doing is a fight for justice, a fight against one of the most powerful evil corporations in the world. And we see how many well-intended, good-intentioned people, for example, the Norwegian Oil Fund, who claims to be a responsible investor, who says they care about people and the world and what their money is doing.
“We see even such kind of institutions are backing these evil corporates. When it is about money, we see how it’s so easy to compromise so many big powerful institutions. Even they compromise when it’s about money.
“They accept. They hear what Shell tells them. They believe what Shell tells them. And you are fighting against all of that. You are fighting against that compromise. Your standing, your work means a lot.
“You show that people will never compromise. People will always fight for justice and truth. That is why it’s very inspiring for us to see the actions you are taking on the ground, the work you are doing,” he said.
