Thread by @jsfreed

Last night climate got the spotlight. As I told @LFFriedman of @nytimes “This is a playbook that they keep coming back to, and it’s less and less effective. The economy is moving on and the public is moving on.” Here’s a thread w details; nytimes.com/2020/10/23/cli… 1/

@LFFriedman @nytimes Even major oil companies know that oil is on its way out. Increasingly, the world’s biggest oil companies are signaling that they will invest more in clean energy and reduce their emissions. 2/

@LFFriedman @nytimes Shareholders are demanding oil companies to be more ambitious on climate. Oil giants Shell, BP, Repsol and Total have all set targets to be net zero emission companies in all their operations by 2050. 3/

@LFFriedman @nytimes Those four have also committed to reducing the average carbon intensity of their products by at least 50%. This means they will have to invest in carbon capture and storage technology, as well as renewables. 4/

@LFFriedman @nytimes Repsol and Total have gone a step further and will include the emissions from the final consumption of their products in their net zero targets. repsol.com/en/press-room/…. and total.com/media/news/tot…. 5/

@LFFriedman @nytimes Repsol, BP and Equinor have all signaled that they will expand their investment in clean energy. Equinor, for instance, will expand grow renewable energy capacity tenfold by 2026. equinor.com/en/news/2020-0… 6/

@LFFriedman @nytimes Many oil companies are also investing more in carbon capture technology. Petrobras has committed to capturing 40 million tons of CO2 by 2025. oilandgasclimateinitiative.com/petrobras-laun…) 7/