Oil companies abandon climate plans

Many oil and gas companies have set more or less ambitious climate goals in the past. But after record profits, more and more companies and governments are now abandoning the idea of leaving fossil fuels in the ground.

Oil and gas companies are currently focusing more and more on the expansion of fossil reserves and are abandoning their original plans for more climate protection. In view of record profits caused by the international energy crisis in the wake of the Ukraine war, industry and politicians are reconsidering their previous plans to leave oil and gas reserves in the ground for the sake of climate action. This jeopardizes meeting the climate plans set out in the Paris Agreement.

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