How oil majors bought into green energy

FINANCIAL TIMES đź”’| This year will be remembered as the point when the long-anticipated energy transition to a low-carbon future moved unequivocally from being a topic of debate to a shift of substance.

This transition away from fossil fuels will still take longer than many would wish — but the pace of change will outstrip the current conventional forecasts.

Covid-19 is just one factor in what is a more complex story. The real driver has been a judgment made on the part of the energy business — in particular European-based oil and gas companies such as BP, Shell, Equinor and Total — that for basic commercial reasons they need to be on the green side of the future. This mirrors a similar realisation among energy-consuming companies in many other industrial sectors.

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