'Betting against 1.5C': Oil majors spend big on fossil fuel projects

clock • 2 min read

Oil and gas companies have approved $50bn of major projects since 2018, undermining climate targets and risking shareholder returns, think tank finds

Every oil major is investing in projects that will undermine global climate change targets, according to analysis released today by Carbon Tracker. Fossil fuel demand will have to fall to meet international...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Ecotricity debuts dynamic energy pricing for homes with renewables installed

Ecotricity debuts dynamic energy pricing for homes with renewables installed

New model will allow homes with solar and batteries to access cheaper power prices and sell surplus electricity back to the grid

clock 08 May 2025 • 2 min read
IEA: Fossil fuel industry failing to curb 'stubbornly high' methane emissions

IEA: Fossil fuel industry failing to curb 'stubbornly high' methane emissions

Methane emissions from oil, gas, and coal production showing little sign of falling, despite huge financial benefits on offer from tackling powerful greenhouse gas

Michael Holder
clock 07 May 2025 • 4 min read
Study: Over 70 per cent of businesses to push forward with electrification

Study: Over 70 per cent of businesses to push forward with electrification

But drive to electrify is fuelling concerns over security of supply and volatile energy costs, according to a major new study from EY

Stuart Stone
clock 01 May 2025 • 4 min read