Chevron Triples Low-Carbon Investment, but Avoids 2050 Net-Zero Goals
By Sabrina Valle and Arunima Kumar
Chevron Corp (CVX.N) on Tuesday pledged to triple to $10 billion its investments to reduce its carbon emissions footprint through 2028, while saying it was not yet ready to commit to a 2050 net-zero emissions target.
Oil producers globally are under mounting pressure from investors and governments to join the fight against climate change and sharply cut greenhouse gas emissions by mid-century, with U.S. majors lagging efforts by European companies.
Photo courtesy of cowins.