EnergyWatch

Norway's oil giant bends to investor pressure on climate

Equinor ASA is the latest large oil company to bow to a major investor group that is pushing corporations to take more robust action on climate change.

Photo: Ole Jørgen Bratland/Equinor

The Norwegian state oil giant has agreed to align its business model with the goals of the 2015 Paris climate accord, and will review its corporate lobbying policy and the carbon intensity of its products, the company said in a statement. It will also link executive pay to climate-related targets.

The action was taken after several investors from a coalition called Climate Action 100+ pushed Equinor to take a bigger role in tackling global warming. While the group acknowledged the Norwegian oil company is one of the most progressive in the industry on climate change, investors overall have become much tougher on fossil fuel producers that risk shrinking as the world transitions to lower-carbon fuels.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs