Very occasionally, this most hated of #dataviz tools (the humble pie chart) is actually a good way to tell the story of oil and gas industry investment in clean energy…
To what extent are the #oil and #gas industries shifting to #CleanEnergy, essential to achieve the #ParisAgreement’s #climate goals and for human survival. This graph by , based on data () tells the story. #wef20
We just released ’s new report on the oil & gas industry in energy transitions. The need to reduce greenhouse gas emissions means companies face the challenge of balancing short-term returns against long-term social acceptability. Read it here:
The global oil & gas industry has doubled the share of its investment going towards renewables & CCS… …as of 2019, it only put 99.2% of capital spending towards fossil fuel development, instead of 99.6%, according to a new report
Are oil and gas companies part of the problem in tackling climate change, or could they help solve it? We released a new report looking at this issue yesterday. A few key findings 👇👇👇 1/9
Director of ’s Environmental Economics Program, : “fossil fuel companies are pursuing [renewable sources of energy] as part of their financially rational diversification strategies.” Reality:
" Investments in low-carbon businesses represent less than 1% of oil and gas companies capital expenditure. Leading individual companies spend around 5% on average." The Oil and Gas Industry in Energy Transitions – Analysis - IEA
Pleased to discuss ’s new report on the oil & gas industry in energy transitions with govt, industry & finance leaders at #wef20 Oil & gas companies can play a key role scaling up critical low-carbon technologies like CCUS, hydrogen & offshore wind.
Just for completeness, here are the absolute numbers and the breakdown of clean energy investment by type
People often tell me that #climatechange is complicated, nuanced, that industry plays a key role in fixing it Despite Paris, despite the scientific warnings, oil and gas majors are still spending <1% on renewables. That's it. It's really that simple
Its all a bit soporific from . Alternative headlines include "time up for an orderly transition", "Mark Carney is behind you", "bye bye dividends and then what?" or "gas is a bridge and then she dies" The Oil and Gas Industry in Energy Transitions.
When it comes to climate change and oil companies? Don't believe the hype