Daily Management Review

IEA: Oil and gas companies make up 1% in clean energy investments


According to the IEA, 1% of investments in clean energy come from oil and gas corporations.

Washington DNR
Washington DNR
The International Energy Agency (IEA) reports that oil and gas businesses would rather observe the energy transformation from the sidelines, contributing just 1% of all clean energy investment worldwide.

The majority of oil and gas companies are observing the energy shift from the sidelines. Just 1% of all clean energy investments made worldwide are made by oil and gas businesses. Out of thousands of oil and gas producers worldwide, just four businesses account for more than 60% of this amount, according to the IEA's report.

Reducing emissions from operations should be a part of every energy transition strategy for oil and gas industries, according to the agency. The IEA estimates that companies that strive to lower these emissions currently produce less than half of the world's oil and gas.

source: iea.com