Energy, Sector Focus

Sell-off of oil majors’ fossil fuel assets may drive up emissions, says research

A Shell refinery. The oil major – among several mentioned in the report – says ‘We use well-established processes to guide our assessment of opportunities and risks in transactions’ (Photo: Peter Boer/Bloomberg)

Oil and gas giants are offloading fossil fuel assets in a bid to bring down their carbon footprints, according to new academic research, but sales to companies with no net zero commitments could ultimately increase emissions.

Existing disclosure standards are not adequately tracking the sell-off of fossil fuel ...

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