Big Oil Criticized for Falling Short of Net-Zero Goals

Climate Action 100, a lobby group comprising many of the world’s biggest asset managers, has criticized Big Oil majors for falling short of a set of criteria devised to assess a company’s preparedness for a net-zero world. The finding, as detailed in a recent Reuters report, is hardly a surprise since it has been a while since anyone involved in the transition push had a good word to say about the oil industry. However, the timing of this latest attack on the oil industry is notable.

You’re kind of stuck,” Monitz said recently, as quoted by the Wall Street Journal in an article detailing the dilemma of AI developers growth versus the emissions footprint of the energy used to power that growth. There is also the question of energy security. It may have disappeared from news headlines, but it is as pressing as it was two years ago. The UK recently reported oil and gas production from its part of the North Sea had plunged last year to the lowest since 1999.

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