Major oil companies have approved $50 billion of projects since last year that w...
The report also concluded that oil and gas companies risk “wasting” $2.2 trillion by 2030 on new projects if governments apply stricter curbs on greenhouse gas emissions.
Shell said in a statement that it has set out an “ambition” to halve net carbon emissions by 2050 “in step with society as it moves towards meeting the aims of Paris.” “All of this is aimed at evolving BP from an oil and gas focused company to a much broader energy company so that we are best equipped to help the world get to net zero while meeting rising energy demand,” the company said in a statement.
Carbon Tracker’s calculations were based on three scenarios produced by the Paris-based IEA models of oil and gas supply under different warming pathways.
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