Fossil fuel investors 'betting on climate failure'

BP revenue rose 50%

Despite the suite of pledges made at COP26 to decarbonise economies, investment in the fossil fuel industry continues apace while the UK Government is considering new licences for oil and gas fields in the North Sea.

Some experts have warned that the world is "nowhere" nearer to achieving a low carbon economy by 2050. Although many maintain stewardship is crucial in helping oil and gas companies transition, others have argued that those invested in the sector are "betting on climate failure". All the while, business in the fossil fuel industry is booming. Earlier in February, Shell reported earnings of $6.4bn for the fourth quarter of 2021, 55% more than the previous quarter and 16 times higher than the previous year.  BP saw its full year revenue for 2021 rise 50.5% to $164.2bn with an underlying...