Carbon Goals: Big Oil’s Big Targets

Major oil and gas companies are increasingly pressured by activist shareholders to adopt greener practices. BP's investors have pushed for alignment with the Paris climate accord, leading to divestments from companies like Exxon. A report by the Transition Pathway Initiative highlights that only Shell and Repsol are on track to meet the Paris Agreement by 2050, albeit with minimal pledges. Most companies focus on reducing operational emissions, neglecting product emissions. BP is leading in climate-safe investments, while Exxon is lagging.

What action did BP's investors take to ensure the company's alignment with climate goals?

• They demanded a reduction in oil production.

• They voted for a report on investment alignment with the Paris climate accord.

• They insisted on a merger with a renewable energy company.

• They requested a change in the company's CEO.

Which major shareholder divested $300 million worth of Exxon shares?

• Vanguard Group

• BlackRock

• Legal and General Investment Management

• State Street Corporation

According to the Transition Pathway Initiative, which companies are expected to align with the Paris climate agreement by 2050?

• ConocoPhillips and Eni

• Exxon and Total

• Shell and Repsol

• BP and Chevron

Why are many companies not aligned with the Paris climate agreement, according to the report?

• They are waiting for government regulations.

• They have already met their climate targets.

• They are focused on reducing operational emissions but not product emissions.

• They are investing heavily in renewable energy.

What percentage of BP's capital expenditure is allocated to climate-safe projects?

• 90%

• 50%

• 83%

• 63%