‘Their profit, our loss’: Greenpeace calls out $6.92-B in Shell profit amid soaring prices

Greenpeace Philippines

May 11, 2026 0 Comments

Quezon City — Greenpeace Philippines slammed the increased $6.92 billion profit of Shell plc last quarter¹ as profiteering from climate destruction, conflict, and rising fuel prices. The group said this exposes how fossil fuel dependence deepens both the climate crisis and the rising cost of living² amid geopolitical tensions related to the US-Israeli war on Iran. Greenpeace also challenged President Ferdinand Marcos Jr. to accelerate fossil fuel phase-out and hold major polluters accountable.

Reacting to this, Greenpeace Climate Campaigner Jefferson Chua said:

“Shell doesn’t need to launch missiles to cause immense suffering. Its profits are built on decades of emissions, environmental destruction, and extreme weather events that continue to destroy homes, livelihoods, and lives of Filipinos.³ Earning billions while people face simultaneous and interconnected crises such as war, soaring prices, and climate impacts is obscene.

Shell has shown that it will take every crisis as an opportunity to profit. Instead of abandoning oil and gas in favor of renewable energy, fossil fuel companies responded to supply disruptions in the Strait of Hormuz by expanding operations elsewhere.

Shell’s move to expand in Canada through its $16.4-billion ARC Resources deal⁴ shows how fossil fuel companies regroup during time of crisis in order to keep amassing superprofits, while communities pay the price in the form of rising food, fuel, and electricity costs.⁵ This cost of living crisis in the Philippines likewise comes as meaningful wage increases remain out of sight.⁶

These greedy corporations must be stopped from further tying down the world to dirty energy sources, as their greed also pushes us away from reaching our climate targets. It is unacceptable that Shell continues to profit from the same system that drives not only climate devastation but also economic suffering here and abroad.

President Ferdinand Marcos Jr. must urgently accelerate a just transition away from fossil fuels. At the same time, accountability must be exacted upon these corporations by supporting policies and proposed legislations that hold major polluters accountable, such as the Climate Accountability Bill.⁷ Instead of allowing companies like Shell to profit from the suffering of Filipinos, the government must make these polluters pay and ensure affected communities receive the justice and compensation they deserve. Mr. President, the ball is in your court. It’s time to act.”