In this hard-hitting interview, Corporate Europe Observatory’s Pascoe Sabido reflects on the outcome of COP27. While celebrating the success of the loss and damage agreement, he worries about the follow through on the Loss and Damage provisions-and the likely ways in which this finance is structured, with the reliance on debt and provide finance. Pascoe is a has spent many years researching the power of the fossil fuel industry—in particular its lobbying within the EU-and he explains in detail how the fossil fuel lobby operates and impacts policy in Europe. A powerful critique of the role of the fossil fuel industry-shot through with optimism -and hope–that change is coming, that people have had enough of our competition market-based economic system…that there is growing momentum for change, for a new economic approach, with more solidarity, and social justice, based on people’s needs.

Pascoe Sabido is a Researcher and Campaigner at a Brussels based non-profit research and campaign group whose aim is to “expose any effects of corporate lobbying on EU policy making”. Pascoe’s research is focused on exposing the power of the oil and gas industry in the European Union and at the level of the United Nations.