Prudence in a changing climate
Big oil is starting to invest in renewable energy before it is too late
In the 15 months since 195 nations created the Paris Agreement on climate change, a marked change in the way the oil and gas sector approaches the challenge of cutting carbon emissions has taken root. This shift has been encouraged not just by a steady improvement in the economics of low-carbon energy, but also by a switch in policy towards favouring renewable-energy sources. Momentum has been building in the past year in particular. The threat to established energy producers, posed by non-fossil fuel sources, is not an existential one. Low carbon energy has already changed the outlook for oil and gas demand, and will continue to do so. "Climate change is a profound challenge to the fossil f
Also in this section
12 March 2026
Role of world’s largest carbon cap-and-trade market under scrutiny as war in Iran threatens to drive EU energy costs to unsustainable levels
10 March 2026
Europe urgently needs to bring more projects to FID, as CCS investors warn they might divert capital to faster-growing regions
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
2 January 2026
This year may be a defining one for carbon capture, utilisation and storage in the US, despite the institutional uncertainty
