Hunger for fossil energy unchecked

At the UN climate conference COP28 in December, almost 200 countries agreed to call for a shift away from fossil fuels and a tripling of renewable energy capacity this decade. The oil and gas industry is still largely sticking to its expansion plans, as the Carbon Tracker think tank noted on Wednesday.

She examined the climate protection efforts of the world’s 25 largest oil and gas companies.

According to a study, none of the 25 largest oil and gas companies in the world are on track when it comes to climate protection. “Our results show that the industry is falling far short of what it needs to do to align with the goals of the Paris Agreement,” the report said.

Grades from A to H were given. The British company BP received the best grade – a D – because of its recently weakened plan to reduce its production by 2030. At the lower end of the scale are the Saudi Arabian group Saudi Aramco, Brazil’s Petrobras and ExxonMobil, USA.