According to the latest update to the Carbon Majors database, produced by InfluenceMap, just 36 companies are linked to more than half of global carbon emissions. In total, Carbon Majors has traced 33.9 gigatons of carbon dioxide equivalent (GtCO2e) emissions to 169 active companies in its database for 2023, with its database emissions making up […]
Oil and gas giant BP has scaled back plans to reduce its production of fossil fuels by 2030 after it saw record annual profits that more than doubled to $27.7 billion last year. Gas prices soared following Russia’s invasion of Ukraine, bolstering the company’s earnings. BP now plans to increase its oil and gas production […]
When Russia’s invasion of Ukraine led to gas shortages and soaring prices, it was used by both governments and fossil fuel companies to justify more oil, gas and coal development.
We may have already passed peak demand for oil. This suggestion comes from an unlikely source: fossil-fuel giant BP. The company released its annual Energy Outlook report Monday, and found that oil demand may have already peaked in 2019, as the rise in renewable energy intersects with the impact of the coronavirus pandemic, The Guardian […]
BP, the energy giant that grew from oil and gas production, is taking its business in a new direction, announcing Tuesday that it will slash its oil and gas production by 40 percent and increase its annual investment in low-carbon technology to $5 billion, a ten-fold increase over its current level, according to CNN. Despite […]
Fossil fuel giant BP made headlines earlier this year when it announced it would target net zero emissions by 2050. Now, it is in the headlines again, since it announced on Monday that it would slash 10,000 jobs, roughly 15 percent of its workforce, as it struggles during a downturn in the oil market and […]
British-based oil and gas giant BP set the most ambitious climate goal of any company in its industry yesterday when it announced that it will eliminate or offset all of its greenhouse gas emissions by 2050, according to The New York Times. Its ambitious plans included offsetting the burning of oil and gas it takes […]
A Danish pension fund has said it would sell its stake in major oil companies as their business models are incompatible with the goals set out in the Paris climate agreement. MP Pension, a $20 billion pension for Danish M.A’s, M.Sc.’s and Ph.D’s who are employed in public sector universities and upper secondary schools, said […]
By Julia Conley Three Greenpeace campaigners halted a British Petroleum oil rig off the coast of Scotland on Sunday as it prepared to leave for the North Sea to drill oil wells. Carrying enough provisions to last several days aboard the rig, the climate action advocates pulled up to the 27,000-ton vessel in small boats […]
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