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
The #COVID19 crisis is adding to uncertainty for the oil industry as it considers new strategies & investments. Companies need to show they can deliver not just energy to fuel economies but also emissions reductions to help meet climate goals. More here
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
A timely article highlighting the range of players in the oil & gas industry. As 's recent report showed, national oil companies (owned by govts) account for well over half of global oil output & an even larger share of reserves. More here:
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