Very few Big Oil climate targets 'have meaning': Former BP CEO John Browne
Big Oil CEOs can no longer express doubt that burning of fossil fuels is a large contributor to climate change. Former BP CEO John Browne was way ahead of his time, though, as an oil CEO making renewable energy investments and reducing greenhouse gas emissions over 25 years ago. Now, ason Thursday about climate change, Browne says the big picture hasn't really changed — at least not nearly enough to achieve carbon reduction goals.
A customer refuels a car at a gas station in San Francisco, California, U.S., on Thursday, Oct. 21, 2021.The issue isn't limited to the energy sector. Roughly 1,800 companies have committed to Paris 2050 climate goals, but only 50% of those companies have set carbon reduction targets, and only 10% of those companies have plans to deliver.
"We need to convert the conviction into conduct and actually step up to the plate with the authorities that various agencies have," said former Treasury Department Deputy Secretary Sarah Bloom Raskin, who spoke with Browne at ESG Impact.
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