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Climate Plans

All articles tagged with #climate plans

world3 months ago

China commits to ambitious climate targets amid global debate

China announced its first-ever emissions reduction target of 7-10% by 2035 and plans to significantly expand renewable energy, marking a shift in its climate commitments amid U.S. retreat from the Paris Agreement. Despite these efforts, global climate pledges remain insufficient to meet the goals of limiting warming to 1.5°C, with countries like Brazil and Australia also setting ambitious targets. Chinese President Xi Jinping subtly criticized the U.S. for moving away from climate goals, highlighting a geopolitical shift in climate leadership.

business-energy1 year ago

BP's Share Buybacks Accelerate Despite 50% Profit Slide

Despite a significant drop in full-year profits due to lower oil prices, BP plans to accelerate its share buyback program and increase shareholder returns. The company reported a 50% decrease in full-year profit, but exceeded analyst expectations for fourth-quarter net profit. BP's CEO expressed confidence in the company's strategy and commitment to delivering long-term value for shareholders. The announcement comes amid pressure from activist investors over the company's strategy, including calls to ramp up oil and gas investments. BP has also undergone a leadership change and adjusted its climate plans, aiming for a 20% to 30% cut in emissions instead of its previous target of net zero by 2050.