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Major oil and gas firms own just 1.42% of global renewables, with minimal real investment despite climate promises.
A new study finds that the world’s largest oil and gas companies own just 1.42% of global renewable energy projects, with renewables making up only 0.1% of their total energy output, challenging claims of leadership in the energy transition.
Despite public pledges and emissions targets, most fossil fuel firms have made minimal investments, with only 20% operating any renewable projects, and their efforts are largely seen as symbolic or greenwashing.
The research, based on data from 250 major producers responsible for 88% of global hydrocarbon output, shows their renewable assets are mostly acquired, not developed in-house.
Experts argue this highlights a disconnect between rhetoric and action, urging governments to stop treating fossil fuel companies as credible partners in climate policy.
Meanwhile, global air quality funding continues to decline, with fossil fuel project financing rising sharply, undermining efforts to address pollution and health crises.
Las principales empresas de petróleo y gas poseen solo el 1.42% de las energías renovables globales, con una inversión real mínima a pesar de las promesas climáticas.