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21 Jan 2015

The Democracy Center, Corporate Europe Observatory, Transnational Institute (TNI)

Corporate conquistadors - The many ways multinationals both drive and profit from climate destruction

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Multinational corporations are relentlessly expanding their operations into ever more vulnerable and remote regions of the planet. As they do so they both drive the climate crisis and exacerbate its impacts. They bear responsibility for a global crisis which affects us all, and they bring social and environmental destruction to the local communities where they operate. A further legacy of their oil drilling, industrial mining and mega hydroelectric projects is the erosion of those communities' resilience just as the impacts of climate change begin to take effect. These same multinationals are also the biggest barrier to meaningful action on climate change, blocking urgently needed regulations and genuine transformational solutions...In the pages that follow we examine the activities of three powerful European multinationals operating in Peru and Colombia. These cases are emblematic of how corporations drive the climate crisis and use their undue power and influence to obstruct just and effective climate policies while intensifying social and environmental conflicts on the ground [Repsol, Glencore, Emgesa (part of Endesa, part of Enel].