The world’s major oil and gas companies claim they are leading the energy transition. They spend billions on PR to brand themselves as part of the solution. The data we’ve reviewed tells a different story.
Where a rapid transition to renewables is taking place, incumbent fossil fuel firms have almost nothing to do with it. Analysis by one of us shows that the largest 250 oil and gas companies only own 1.42% of global renewable energy, and just 0.01% of the energy they extract comes from renewable sources.
