By Abdullahi Lukman
Amid wildfires sweep across southern Europe and extreme heat strains public health systems, oil major Shell has announced a second-quarter profit of $4.26 billion, exceeding analyst expectations.
The company also revealed plans to repurchase $3.5 billion in shares over the next three months — a move that has triggered backlash from climate campaigners who see it as emblematic of a global system prioritizing profit over planetary survival.
Shell’s earnings announcement comes as countries from Greece to Portugal face unprecedented climate disasters — including heatwaves, deadly fires, and widespread flooding.
Activists argue that Shell’s profits, built on ongoing fossil fuel extraction, highlight the failure of both corporate responsibility and political leadership in tackling the climate emergency.
“Shell’s astronomical profits are a slap in the face to the millions already living through climate catastrophe,” said Matilda Borgström, UK campaigner with 350.org.
“While communities are hit by floods and fires, Shell is cashing in – fueling the crisis while dodging accountability.”
Campaigners are now urging governments to:
. Impose taxes on extreme wealth and fossil fuel profits.
. End fossil fuel subsidies and redirect public funds to community-led renewable energy.
. Support a UN Tax Convention to address global tax avoidance and increase funding for climate and social programs.
They argue that climate disasters are no longer a distant threat but a current and escalating injustice.
As public funding for healthcare, climate adaptation, and disaster relief is stretched thin, fossil fuel companies continue to generate record profits without contributing to the cost of the damage they help cause.
“The firestorms sweeping Europe are a reminder that those least responsible for the crisis are suffering the most,” said the campaigners.
“It’s time to stop rewarding the arsonists.
Governments must act now — tax polluters and invest in a just transition that prioritizes people and the planet.”
