Are oil executives in denial? It’s quite a conundrum. A diverse suite of stakeholders is increasingly agitating for a strategy and action for the energy transition, and a target-driven reduction in greenhouse gas emissions. Yet most companies plan to increase exposure to oil and gas production.
The call for action to cut carbon emissions is intensifying, a disparate lobby becoming highly effective in driving the debate. This month alone, two new fronts opened, with compelling takes on the theme – scientific evidence of the dwindling insect population globally; schoolchildren on strike in protest over what they perceive as the UK government’s inaction. The industry is getting it in the neck from a widening spectrum, among them academics, climate change experts and activists, lenders and investors, and now a vocal younger generation insisting on being heard.
