Oil and gas companies are jeopardizing shareholder returns by rewarding bosses for endlessly chasing growth in a world where investor pressure to conform to climate targets and sharp falls in renewables costs are set to eat into future demand, financial think tank Carbon Tracker said on Thursday.
Previous research by it has found that rapid growth of clean technologies coupled with tightening climate policies would see global demand growth for oil weaken through the 2020’s before eventually declining, with growth in demand for gas curtailed.
The new report warns that companies that try to maximise production risk overinvesting and wasting money on projects that deliver poor returns and destroy value. Read More
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