Oil and Gas Majors Reduce Green Spending Since 2017

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The reduction in green spending by oil and gas giants comes amid increasing pressure to address climate change and diversify energy portfolios. While these companies have made pledges to reduce emissions and invest in renewable energy, the recent pullback suggests a re-evaluation of priorities, potentially influenced by factors such as fluctuating oil prices and investor demands for short-term returns. This trend could slow down the pace of the energy transition and impact global efforts to combat climate change.