You know what they say? Be careful what you wish for.
Oil and Gas
Saudi Aramco posted the biggest quarterly adjusted profits of any listed company globally driven by high crude prices and production.
A bill containing the largest ever climate action to date has been approved by the US Senate and is expected to pass in Congress within days. This could provide significant impetus to the ESG and sustainability markets.
Moving assets from pubic to private ownership risks global net zero targets, according to a report from the Environmental Defence Fund (EDF).
The United Nations chief has sharply criticised the "grotesque greed" of oil and gas companies for making record profits from the energy crisis on the back of the world's poorest people, "while destroying our only home".
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
The Canadian government has released a discussion paper that proposes a range of options of how to establish an emissions cap on the country’s oil and gas sector.
NGS Super, a super ‘industry’ pension fund in Australia has become the first fund of its kind in the country to divest from the oil and gas sector. Sales of the funds’ oil and gas holdings totals A$191 million ($133 million), only a fraction of the funds’ A$13 billion ($9.1 billion) portfolio.
Despite the failure of Biden’s climate action plan due to pushback from Senator Joe Manchin, a new deal has been struck including climate action in a bill aimed an addressing energy security and inflation.
Germany has approved over €177.5 billion in funding to accelerate the transition to a clean energy system as part of the government’s special “climate and transformation fund”.