© Reuters. Two climate activists display a banner during a demonstration before the World Economic Forum in Davos on Sunday. Photograph: Arend Wegmann/Reuters.
From Maha Al Dahan
DAVOS, Switzerland (Reuters) – Climate change activists on Sunday in Davos protested the role of oil majors at this week’s World Economic Forum, accusing them of hijacking the climate debate.
Representatives of major companies, including BP, Chevron and Aramco (TADAWUL:) Saudi Arabia, are participating in the annual forum in the Swiss resort among 1,500 business leaders to discuss threats facing the world, including climate change.
“We demand real, concrete action on climate,” said Nikolaus Siegrist, the 26-year-old protest organizer who also heads the Young Socialists in Switzerland.
The annual gathering of global business and political leaders officially opens in Davos on Monday.
Regarding the participation of energy companies in the forum, Siegrist said, “They will be in the same room with the leaders of countries, and they will press for their interests.”
The oil and gas sector wants to be part of the energy transition as fossil fuels will continue to play a major role in the global energy mix as countries transition to low carbon economies.
More than 100 protesters gathered in a snow-covered square in Davos, chanting “Change your diet for the climate, eat the rich” while some booed at the mention of oil companies during a speech.
“I know that some companies are involved in the alternatives industry, but I think that governments, with the support they provide, should pay for alternative energy,” said Heads Smith, a member of the 99% organization.
Smith was holding a sign that read “Stop Rusbank,” an oil and gas field in the North Sea that the activist is campaigning to stop plans to develop.
Higher interest rates have made it more difficult to attract financing for renewable energy projects, giving traditionally wealthy players a competitive advantage.
“There’s still a lot of money to be made from investing in fossil fuels,” Smith added.
(Prepared by Muhammad Ali Farag for the Arabic Bulletin – Edited by Mahmoud Abdel-Gawad)
