Europe's top oil companies are yet to be aligned with U.N.-backed targets to combat climate change even after outlining ambitious plans to slash carbon emissions and pivot to renewable energy, a report backed by a group of major investors said.
LONDON - Europe’s top oil companies are yet to be aligned with U.N.-backed targets to combat climate change even after outlining ambitious plans to slash carbon emissions and pivot to renewable energy, a report backed by a group of major investors said.
TPI’s analysis of 59 major oil, gas and coal companies said that seven European firms - Glencore, Anglo American, Shell, Repsol, Total, Eni and Equinor - have set out plans to align with long-term pledges made by some governments to cut greenhouse gas emissions. “We’re very happy that some oil and gas companies are seeing these fundamental changes and trying to respond,” said Bill Hartnett, stewardship director of ESG Investment at Aberdeen Standard Investments, a TPI member.
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