Is Big Oil Going Green?

Oil supermajors rank among the biggest polluters in the world—a hardly surprising fact. In recent years, however, Big Oil has reduced its greenhouse gas emissions, in what may come as a surprising fact about the dirtiest industry globally. The world’s five largest oil firms—ExxonMobil, Chevron, Royal Dutch Shell, BP, and Total—cut their combined emissions by 13 percent, starting from 2010 and ending in 2015, the latest year with available comprehensive data, a report by Bloomberg New Energy Finance (BNEF) released this week showed. BP cut its pollution the most, by 25.5 percent, while the largest polluter among listed companies—Exxon—reduced its emissions by 14 percent. The oil supermajors—excluding Chevron, which only started reporting emissions in 2012—reduced their combined greenhouse gas emissions by 56.7 million tons between 2010 and 2015, according to the BNEF report. The emissions reduction this decade is in stark contrast with the trends in previous decades, when […]

Tags:

Comments are closed.