Oil and gas firms invest less than 1% in green energy

Paris: While certain oil and gas majors have sought to burnish their green credentials, overall less than one percent of the sector’s total investment is going into clean energy projects, a report said Monday.

Experts are increasingly worried that that target set in the 2015 Paris accord to limit global temperature rises to “well below” 2C is rapidly becoming unattainable, condemning the world to a cascade of costly droughts, superstorms, floods and wildfires as greenhouse gasses warm the atmosphere.