Mixed investor messages as oil and gas majors come under fire for lack of climate ambition
Groups highlight oil and gas transition risk for investors, but shareholders continue to reject higher climate ambitions.
Oil and gas majors are being criticised by investor groups and financial think tanks for their “insufficient” transition plans and misalignment with the goals of the Paris Agreement, even as their shareholders continue to reject proposals to raise climate ambitions.
Climate Action 100+, an investor coalition that recently lost members after raising the bar for how financiers should engage with large polluters in their portfolio, today published its first analysis of oil and gas companies’ transition plans, based on its new net zero standard for the sector.
