Energy Firms Retreat From Global Net Zero Standard Setter

At least three large oil and gas companies have walked away from an initiative seeking to put the industry on a credible path toward net zero emissions.

Shell Plc, Aker BP ASA and Enbridge Inc. have all left the expert advisory group of the Science Based Targets initiative, the leading global standard setter for corporate climate targets. The retreat, reported earlier on Tuesday by the Financial Times, started late last year after the companies were told that a net zero emissions strategy accredited by SBTi would require them to stop developing new oil and gas fields.