Shell annual profits for 2023 – Friends of the Earth reaction

Press release
Shell's announced huge annual profits for 2023, while energy prices soar.
  Published:  01 Feb 2024    |      1 minute read

Responding to Shell’s annual profits announcement for 2023, in which the oil giant posted earnings of £22.4 billion, Imogen Dow, warm homes campaigner at Friends of the Earth, said:

"2023 was one of Shell’s most profitable years ever as the oil and gas industry continues to rake in billions while bill payers face another winter of soaring energy prices.

"It’s been more than two years since energy prices first shot up and still the UK’s cold homes crisis remains unaddressed, at detriment to the millions struggling to stay warm and well this winter.

"By rolling out a street-by-street insulation programme, and rapidly expanding the UK’s homegrown renewable power production, the government can bring down bills quickly, keep millions warmer and slash carbon emissions. This can and should be funded in part through a windfall tax on the fossil fuel companies fuelling the climate crisis and driving up energy prices."