Europe’s Oil Majors Scale Back Climate Ambitions

Europe’s Oil Majors Scale Back Climate Ambitions

Europe’s oil and gas giants are increasingly scaling back their climate goals as they struggle to deliver on their ambitious clean energy pledges. Back in 2022, Norway's state-controlled energy giant Equinor ASA (NYSE:EQNR) laid out its roadmap to achieving net zero emissions. However, In February Equinor scrapped a pledge to devote more than 50% of its gross capital expenditure to renewables and low-carbon solutions by 2030. Equinor has also ab…

Big Oil Retreats: Europe's Energy Giants Ditch Green Pledges

Europe’s oil and gas giants are increasingly scaling back their climate goals as they struggle to deliver on their ambitious clean energy pledges.

“We are back to our roots,” says the head of the oil company BP. But energy experts believe that will not stop the transition to renewable energy.