No oil and gas majors aligned with climate targets: report

March 21, 2024

All major oil and gas companies plan fossil fuel expansion incompatible with limiting warming to 1.5 degrees Celsius, a new report said Wednesday. The report scores firms on a scale from A to H, using criteria including investments, production plans and emission targets. However, BP last year said its carbon emissions would not fall as quickly as anticipated, as it posted record annual profit thanks to soaring oil and gas prices. Combustion of oil, which makes up the bulk of its emissions, was down 35 percent since 2015, the French firm said in its annual climate report. But the oil and gas industry has made it clear it plans on sticking around as long as possible.

The source of this news is from Tuoi Tre News