Energy Giants Abandon Global Net Zero Group Over Oil and Gas Clampdown

Shell and other major energy players have withdrawn from a high-profile effort to establish a global “net zero” emissions benchmark, after draft proposals effectively demanded an end to new oil and gas developments, according to documents seen by the Financial Times. The companies—Shell, Norway’s Aker BP, and Canada’s Enbridge—exited an expert advisory group convened by the Science Based Targets initiative (SBTi), a widely followed climate standard-setter whose approval is sought by global corporations ranging…