Big Oil Companies' , Actions Fail to Meet , Clean Energy Promises.
New research suggests that four major oil companies have failed to take action that lives up to their promises to transition to clean energy.
.
NPR reports that the study was published on February 16 in the journal 'PLOS One.'
.
The study found that Chevron, ExxonMobil, BP and Shell all used buzz words like "climate" and "low-carbon" in recent annual reports.
.
The study found that Chevron, ExxonMobil, BP and Shell all used buzz words like "climate" and "low-carbon" in recent annual reports.
.
The study found that Chevron, ExxonMobil, BP and Shell all used buzz words like "climate" and "low-carbon" in recent annual reports.
.
The study found that Chevron, ExxonMobil, BP and Shell all used buzz words like "climate" and "low-carbon" in recent annual reports.
.
However, the oil companies have failed to take action and remain financially dependent on fossil fuels.
.
We thus conclude that the transition to clean energy business models is not occurring, since the magnitude of investments and actions does not match discourse, Researchers at Tohoku University and Kyoto University in Japan, via NPR.
Until actions and investment behavior are brought into alignment with discourse, accusations of greenwashing appear well-founded, Researchers at Tohoku University and Kyoto University in Japan, via NPR.
According to the study, those four oil companies alone account for over 10% of global carbon emissions since 1965.
.
The research shows that while BP and Shell have pledged to reduce investment in fossil fuels, they have actually increased acreage for new oil and gas exploration.
.
According to the study, ExxonMobil failed to generate any clean energy between 2009 and 2020.
.
NPR reports that the oil companies have defended their actions and detailed plans that extend as far into the future as 2050 to reach net-zero emissions.
