Why A Scaling Down Of Renewable Energy Plans By BP Was Inevitable
BP(BP) Forbes·2024-06-28 23:00
BP logo seen outside a petrol station in London, U.K. (Photo: Leon Neal)Getty ImagesWhen the news arrived that BP (LON: BP) was scaling down its renewable energy ambitions, it didn't hold much of a surprise. In fact, for market observers there was a certain level of inevitability about it.Since 2020, BP has been working towards building an offshore wind portfolio following a pledge by its former boss Bernard Looney to "become a net zero company by 2050 or sooner." The shift in policy four years ago has ofte ...