Chevron Triples Low-Carbon Spend, Avoids Net-Zero Pledge (3)

Chevron Corp. will triple investments in lower-carbon technologies through the next seven years while putting off a pledge for net-zero emissions in contrast to its European peers.

The oil giant will spend $10 billion through 2028 on hydrogen, renewable natural gas, and carbon capture, with 20% of that allocated to reducing the carbon intensity of its operations, the San Ramon, California-based company said in a statement Tuesday. Chevron’s commitment to a “pathway to net zero” falls shorts of plans by its competitors like BP Plc and Royal Dutch Shell Plc, which have set explicit targets to eliminate emissions by ...