Saudi Aramco and Big Oil are on the “wrong side of history,” says John Kelly

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Former US Secretary of State and Climate Envoy John Kelly said businesses became close to drop Green’s targets under Donald Trump’s presidency, and even if the industry doubles, he blames oil groups for being “on the wrong side of history.”

Following the Theraweek industry meeting, where Saudi Aramco CEO Aminnaser said that “Elvis is more likely to talk about” than the shift to renewables, he highlights reducing emissions from “traditional energy” — Kelly said “I couldn’t be more wrong.”

“If the heads of major fossil fuel companies want to pretend that doesn’t happen, have it. But they are on the wrong side of history. And history isn’t just waiting to prove it. (It’s) prove it now. This transition is happening.”

Kelly, who joined Galvanized Climate Solutions, an investment group founded by Democratic presidential candidate Tom Steyer, said solar and wind energy is also being deployed rapidly in the United States, where renewables make up almost 90% of the new electricity.

The International Energy Agency said last year that spending on clean energy is twice as much as fossil fuels, costing €2tn worldwide. However, this mainly met the rising energy demand, rather than replacing fossil fuels.

The 81-year-old argued that some businesses were “threatening” to drop or disregard Green’s efforts, a reference to a pushback from Republican states over environmental, social and governance issues.

Many companies have faced political backlash, abandoned, delayed, and dropped out of the industrial coalition.

But Kelly said behind the scenes many are still moving forward with climate risk plans. “I guarantee that everyone I’m talking to is staying targeted, but because of this weapon (of climate change), they don’t want to target themselves in doing so,” he said.

Kelly said businesses and states are already changing operations and production for a green future.

“Ford and General Motors, Mercedes and Volkswagen CEOs. Everyone changed production facilities to produce electric vehicles. All of them suddenly go back and make an internal combustion engine vehicle,” he added.

He believed many businesses would move forward regardless of Trump. “They’re doing this because there’s an investment to do, because this is the transformation that’s going to affect the world.”

The former US Secretary of State also said Europe’s focus is on increasing defense spending, but added that this does not need to sacrifice climate action.

He was speaking in London on the sidelines of an event organized by the Sustainable Markets Initiative, a group founded by King Charles.

SMI CEO Jennifer Jordan Syffy added that many CEOs are reluctant to “raising their heads above their heads” on climate issues.

“When there’s this kind of headwind and people worry about shareholders, often even CEOs worry about their position. They care enough about the (climate) issues, but if they don’t respond to shareholders, they’ll have a catch of 22,” she said.

Kelly also played concerns that after Trump withdraws the world’s largest historic polluters for the second time, he will follow the US when other countries withdraw from the Paris Agreement, a global agreement to tackle climate change.

“A country with wise and thoughtful leadership is not going to burn to embrace a new energy future because it is better, it is healthier, cleaner and safer.”