At a recent oil and gas conference in Texas, major energy companies expressed a renewed commitment to fossil fuels, abandoning previous climate pledges. This shift highlights the firms' focus on shareholder interests and alignment with the climate-skeptical Trump administration. Notably, BP announced significant increases in oil investments while discarding planned green investments. BlackRock similarly distanced itself from net-zero commitments. Analysts and advocates criticize this regression, suggesting that the initial climate goals may not have been sincere, allowing for their current retreat.
It's bad that they're walking them back, but the problem was always that they could choose to walk them back if they wanted.
I'm super excited we've launched it now, BP's CEO, Murray Auchincloss, said of the plan at the oil and gas conference CERAWeek in Houston.
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