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Davos 2023: Climate activists protest over big oil hijacking debate

By Maha El Dahan DAVOS, Switzerland (Reuters) - Climate activists protested in Davos on Sunday against the role of big oil firms at this week's World Economic Forum (WEF), saying...
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By Maha El Dahan

DAVOS, Switzerland (Reuters) - Climate activists protested in Davos on Sunday against the role of big oil firms at this week's World Economic Forum (WEF), saying they were hijacking the climate debate.

Major energy firms including BP (NYSE:BP), Chevron (NYSE:CVX) and Saudi Aramco (TADAWUL:2222) are among the 1,500 business leaders gathering for the annual meeting in the Swiss resort, where global threats including climate change are on the agenda.

"We are demanding concrete and real climate action," said Nicolas Siegrist, the 26-year old organiser of the protest who also heads the Young Socialists party in Switzerland.

The annual meeting of global business and political leaders officially opens in Davos on Monday.

"They will be in the same room with state leaders and they will push for their interests," Siegrist said of the involvement of energy companies at the WEF meeting.

The oil and gas industry has said that it needs to be part of the energy transition as fossil fuels will continue to play a major role in the world's energy mix as countries shift to low carbon economies.

More than a hundred protesters gathered in a snowy Davos square chanted, "change your diet for the climate, eat the rich", while some booed oil firms cited during a speech.

"I know some of the companies are involved in alternatives but I think governments with their subsidies, have to skew the field in favour of alternative energy," Heather Smith, a member of the 99% organisation.

Smith was holding a sign saying "Stop Rosebank", a North Sea oil and gas field she is campaigning to halt plans for.

Rising interest rates have made it harder for renewable energy developments to attract financing, giving traditional players with deep pockets a competitive advantage.

"There is still too much money to be made from fossil fuel investments," she added.

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27-01-2023 21:41:15 (UTC+7)

EUR/USD

1.0859

-0.0031 (-0.28%)

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EUR/USD

1.0859

-0.0031 (-0.28%)

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GBP/USD

1.2364

-0.0042 (-0.34%)

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USD/JPY

129.96

-0.26 (-0.20%)

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AUD/USD

0.7105

-0.0009 (-0.13%)

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USD/CAD

1.3328

+0.0008 (+0.06%)

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EUR/JPY

141.14

-0.65 (-0.46%)

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EUR/CHF

1.0023

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23.652

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81.86

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S&P 500

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9,038.95

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52.620

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147.25

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Siemens AG Class N

143.50

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12.325

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    EUR/USD 1.0859 ↑ Buy  
    GBP/USD 1.2364 ↑ Buy  
    USD/JPY 129.96 Buy  
    AUD/USD 0.7105 ↑ Buy  
    USD/CAD 1.3328 ↑ Sell  
    EUR/JPY 141.14 ↑ Buy  
    EUR/CHF 1.0023 ↑ Buy  
    Gold 1,924.00 ↑ Sell  
    Silver 23.652 Sell  
    Copper 4.2410 ↑ Sell  
    Crude Oil WTI 81.86 ↑ Sell  
    Brent Oil 88.34 ↑ Sell  
    Natural Gas 2.825 ↑ Sell  
    US Coffee C 167.63 Sell  
    Euro Stoxx 50 4,164.95 ↑ Buy  
    S&P 500 4,054.10 Neutral  
    DAX 15,111.45 ↑ Buy  
    FTSE 100 7,763.26 ↑ Buy  
    Hang Seng 22,688.90 Buy  
    Small Cap 2000 1,899.25 ↑ Buy  
    IBEX 35 9,038.95 ↑ Buy  
    BASF 52.620 ↑ Buy  
    Bayer 56.30 ↑ Sell  
    Allianz 221.53 ↑ Buy  
    Adidas 147.25 Sell  
    Lufthansa 9.743 Neutral  
    Siemens AG 143.50 Neutral  
    Deutsche Bank AG 12.325 Neutral  
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# So hôm qua # Chênh TG
SJC Eximbank6,720/ 6,820
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Cập nhật lúc 18:54:25 27/01/2023
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