Why are BP, Shell, and Exxon suddenly backing off their climate promises?
17 Feb 2023
It wasn’t long ago that oil giants were trying to outdo one another with promises to cut carbon emissions and take on climate change. In 2020, the price for a barrel of oil briefly plunged below zero, and the world’s largest oil and gas companies portrayed themselves as getting serious about renewables.
BP promised to slash its emissions, Shell pledged to go “net zero,” and ExxonMobil trumpeted its efforts to transform algae into fuel.
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