Oil supermajors invested only a fraction of their capital spending in low carbon projects and decarbonizing their operations between 2010 and 2018. Despite the Paris Climate Agreement urging businesses, particularly in the fossil fuel industry to reduce their carbon footprint, the largest publicly traded companies only allocated a fraction of their capital spending on projects that would actually lead to lower emissions. BP spent 2.3 percent of its capital spending between 2010 and mid-2018 on low carbon projects, the most of any oil supermajor.
Share of capital expenditure aimed at low carbon projects by major oil and gas companies worldwide between 2010 and mid-2018
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The Guardian. (April 15, 2021). Share of capital expenditure aimed at low carbon projects by major oil and gas companies worldwide between 2010 and mid-2018 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/946707/big-oil-capex-invested-in-low-carbon/
The Guardian. "Share of capital expenditure aimed at low carbon projects by major oil and gas companies worldwide between 2010 and mid-2018." Chart. April 15, 2021. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/946707/big-oil-capex-invested-in-low-carbon/
The Guardian. (2021). Share of capital expenditure aimed at low carbon projects by major oil and gas companies worldwide between 2010 and mid-2018. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/946707/big-oil-capex-invested-in-low-carbon/
The Guardian. "Share of Capital Expenditure Aimed at Low Carbon Projects by Major Oil and Gas Companies Worldwide between 2010 and Mid-2018." Statista, Statista Inc., 15 Apr 2021, https://www.statista.com/statistics/946707/big-oil-capex-invested-in-low-carbon/
The Guardian, Share of capital expenditure aimed at low carbon projects by major oil and gas companies worldwide between 2010 and mid-2018 Statista, https://www.statista.com/statistics/946707/big-oil-capex-invested-in-low-carbon/ (last visited December 30, 2024)
Share of capital expenditure aimed at low carbon projects by major oil and gas companies worldwide between 2010 and mid-2018 [Graph], The Guardian, April 15, 2021. [Online]. Available: https://www.statista.com/statistics/946707/big-oil-capex-invested-in-low-carbon/
