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Big Oil Spending Clashes With Climate Goals, Carbon Tracker Says

Sept. 6, 2019, 1:10 PM

Major oil companies have pledged devotion to the goals of the Paris climate accord, but a report from Carbon Tracker analyzing their spending plans suggests their hearts still belong to hydrocarbons.

The $50 billion in spending on new oil and gas developments that companies have pledged isn’t compatible with a world that wants to limit global temperature rises to less than 2 degrees Celsius, according to the study. Some of the notable mismatches come from European giants Royal Dutch Shell Plc and Equinor ASA, whose executives regularly make strong statements about their own personal sense of responsibility to mitigate the ...

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