Analysis

Lack of ambition: How companies and governments around the world slash their climate targets

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Published: March 20th, 2025,
Last updated: May 28th, 2025

Shell also scraps wind investments and stretches its climate targets: Shell’s solar park and wind turbines in Sluiskil, the Netherlands.
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In the tenth year since the adoption of the Paris Climate Agreement, the global energy industry is fighting more fiercely than ever about its future. While supporters of renewables declared at this week’s „Berlin Energy Transition Dialogue“ that the triumph of renewables is in full swing and unstoppable, the fossil fuel industry is working on the opposite. At the „CERAweek“ energy trade fair in Houston, Texas, US Energy Secretary Chris Wright formulated the fossil fuel vision of the future last week to the applause of many oil and gas executives: renewables would only play a small role in the global energy mix, with gas and oil dominating. He argued that reducing carbon emissions was physically impossible and a „sinister goal“ as it would reinforce poverty. The head of Saudi Aramco had put it in similarly harsh terms last year in Houston.

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Renewable energies Climate targets Paris Agreement