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Big Oil Investors Call for More Aggressive Climate Targets

  • Activist shareholder group demands faster action on emissions
  • Oil firms have posted record profits this year amid price jump
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Investors with combined assets of €1.3 trillion ($1.4 trillion) have demanded the world’s biggest oil companies take swifter action to cut greenhouse gas emissions.

This year has seen record profits for Big Oil as countries emerged from Covid lockdowns, boosting energy consumption and prices as supplies tightened. The companies bolstered shareholder payouts in response. Many investors have in fact retreated from stronger climate advocacy amid energy security concerns.