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Christian Aid: Shell’s record £32.2bn profits ‘sickening’

by Tola Mbakwe

Christian Aid has expressed its disgust over Shell reporting record-breaking annual profits.

The oil and energy giant delivered a record $40bn (£32.2bn) profit in 2022. It capped a tumultuous year in which a surge in energy prices after Russia's invasion of Ukraine allowed it to hand shareholders unprecedented returns.

The UK company's record earnings, which more than doubled from a year earlier, mirror those reported by US rivals earlier this week and are certain to intensify pressure on governments to further raise taxes on the sector.

In response, Christian Aid has called on companies to “pay up to repair the damage they have caused to the climate.”

Pete Moorey, head of campaigns & UK advocacy at Christian Aid, said: “Across the globe, it is the people who have done the least to cause the climate crisis who are facing climate shocks, damage to harvests, to homes, and worse.

“It is sickening to see companies like Shell recording record profits yet failing to be held to account for the damage they are causing the planet.

“It is time the UK Government forced polluters to pay up to repair the damage they have caused to the climate.”

Shell’s annual profit far exceeded the previous record of $31bn (£25bn) in 2008. It was driven by higher oil and gas prices, robust refining margins and a strong trading.






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