Oil and gas companies could play a major role in the energy transition but their ability to act is not a simple affair
DEADLY BUSINESS The oil and gas sector is making massive profits from an activity with dire impacts
ENCOURAGING CHANGE Stakeholder action may be needed before oil companies’ green credentials match their hype
KEY QUOTE People are saying we will continue to spend, if not more—the problem is, it’s not right now ...
Despite the massive economic downfall as a result of the Covid-19 pandemic and lockdown, there remains strong demand for renewable energy assets, suggesting the sector will not suffer as it did after the 2008 recession
What investors and governments do with their money sets the direction of the global economy. Mainstream money was directed to fossil fuel for more than a century, leaving clean energy technologies swirling in the eddies. But during 2020 the flow of money dramatically changed course. The stream to fossil fuel slowed to a trickle and now oil and gas is at risk of being left high and dry.
An upcoming EU supply chain law may see multinational oil and gas companies face a rise in lawsuits stemming from the environmental impacts of their operations. These traditional energy firms may consider driving more investments into less-risky renewables as a result
Offsetting emissions is fraught with problems and critics fear these programmes could distract from the real goal of keeping fossil fuels in the ground
Low-carbon hydrogen will almost certainly be needed to cut emissions across a range of hard-to-abate sectors. However, if it is used to solve too many problems, it could end up delaying the energy transition and putting urgent decarbonisation plans in jeopardy
Southeast Asia’s reliance on liquified natural gas is putting the region’s carbon reduction targets in jeopardy. But cost considerations currently outweigh environmental concerns
COVID-19 may have reduced emissions in the short-term, but much more needs to happen to slash fossil fuel use to meet climate targets
The climate catastrophe is provoking action in the boardroom as pressure mounts among the workforce. Management teams are changing business plans to be more climate-friendly or risk losing talent