Greenpeace has released a report taking aim at 12 European oil companies, which the charity says are only committing 7.3% of their total investments to the energy transition.
Energy UK has criticised proposals to impose a revenue cap on low carbon energy generators with it potentially hindering the investment that is needed to safeguard the UK’s energy security and reduce energy bills.
The opportunity to hit net zero by 2050 globally is “narrow but still achievable” if renewables grow to dominate the energy sector, while no additional investments into fossil fuels are made.
Globally fossil fuel consumption is set to fall for the first time ever as renewables continue to surge over the next thirty years, according to oil and gas giant BP’s 2020 Energy Outlook Report.
The oil and gas sector has been put on notice by global bank BNP Paribas, which has warned them in a new report that the “irresistible” economics of combining renewables with EVs is “the death toll for petrol”.
