Major shareholder cuts ties after oil company backpedals on promises: 'Enough was enough'

Major shareholder cuts ties after oil company backpedals on promises: 'Enough was enough'

Long-term climate promises are easy for companies to make but much harder to keep in the short term. Amid board pressure to maximize profits for the next quarter, actually moving toward more sustainable practices tends to be pushed back to an unspecified point in the future.  After Equinor, a major Norwegian oil and gas company, went back on its climate pledges, a major shareholder decided enough was enough and pulled out, according to Reuters. …