The world’s largest oil and gas companies are adopting more ambitious climate targets but “most are resisting absolute cuts in their emissions”, a report by influential climate think tank Carbon Tracker has found. The report – which analysed the climate policies of the 10 largest listed fossil fuel companies, from Shell and BP in the UK to Chevron and ExxonMobil in the US -– found that eight had signed up to “net zero” goals. However, most were relying on carbon capture and carbon mitigation technologies to achieve their aims - technical solutions that “are unproven at scale,” it said. The report also noted that several companies were keeping the option to increase fossil fuel production. An activist shareholder on Wednesday ousted two ExxonMobil directors, who were viewed as insufficiently attuned to the climate threat.

Source: The Irish Times May 27, 2021 11:30 UTC