New research in the journal Nature Sustainability reveals oil and gas companies own a “marginal” share of global renewable capacity, years after claiming they would lead the energy transition.
This study really highlights the gap between marketing and reality for companies like TotalEnergies. The fact that these European majors generate less than 0.5% of their energy from renewables is pretty damning given all their green advertisng campaigns. I think the most telling part is when BP's CEO admited their optimism for a fast transition was misplaced. That's basically saying the quiet part out loud, they never really intended to pivot away from oil and gas, it was all PR. The lobbying spending numbers you cited are also eye opening, $219 million to elect favorable governments while spending almost nothing on actual renewable capicity. It's frustrating because they have the capital and expertise to genuinely lead the transition but choose not to.
This study really highlights the gap between marketing and reality for companies like TotalEnergies. The fact that these European majors generate less than 0.5% of their energy from renewables is pretty damning given all their green advertisng campaigns. I think the most telling part is when BP's CEO admited their optimism for a fast transition was misplaced. That's basically saying the quiet part out loud, they never really intended to pivot away from oil and gas, it was all PR. The lobbying spending numbers you cited are also eye opening, $219 million to elect favorable governments while spending almost nothing on actual renewable capicity. It's frustrating because they have the capital and expertise to genuinely lead the transition but choose not to.
https://substack.com/@sbm369/note/c-167240682?r=3wu1fz