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Energy, Sector Focus
April 4, 2023

Energy majors fall short on renewables investment

By Alex Irwin-Hunt

BP oil rig
The UN is calling for a cease to all new licences or funding of new oil and gas projects in line with IEA warnings. (Photo: Andy Buchanan/Reuters)

Less than a quarter of 2022 capex by each major was committed to renewable energy, according to a Reclaim Finance study. The world’s largest producers of oil and gas are not changing their investment plans fast enough to reduce their emissions in line with the world’s 2050 net zero emissions ...

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