The international engineering company Wood Group has expanded its oil and gas business and dramatically shrunk its renewables operations after receiving a £430m government-backed “green transition loan”, prompting calls from environmental groups for a review of the process that authorised the loan.
The growth of fossil fuels business of the company, with headquarters in Aberdeen, Scotland, has shown that the government’s “transition export development guarantee” scheme, which guaranteed the loan, facilitates greenwashing and is open to abuse by polluting companies, according to environmental groups.
