Big Oil under pressure to recalibrate green transition goals

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The story "Big Oil under pressure to recalibrate green transition goals" was covered 3 days ago by Financial Times, a news publisher based in United States.

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Financial Times 3d ago

Big Oil under pressure to recalibrate green transition goals - Financial Times

Quick Summary:

Part of the reversion reflects a recognition by some stakeholders of the challenges of the energy transition, and the fact that more oil and gas will be needed to meet global energy demand until renewable alternatives can be scaled up.

In the US, ExxonMobil, which has never committed to move away from oil and gas, has appeared bolder than ever: filing a lawsuit against an activist shareholder that has been pressuring the company to set more ambitious transition goals.

The transformation would be needed, chief executives argued, to help cut global emissions and provide a future for their companies as the energy system evolved to greener fuels.