NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases research which examines and contrasts sustainability moves by Royal Dutch Shell and BP, two of the largest European oil companies, against two of the largest in the U.S., Exxon Mobil and Chevron.
As global investors increasingly align their investments with environmental, social, and governance (ESG) considerations, oil and gas majors are facing increasing pressure to demonstrate the ability to pivot their business models toward a low carbon future. Globally, oil and gas operations account for about 9% of greenhouse gas (GHG) emissions and the fuel the industry produces accounts for another 33%. Importantly, although renewable energy is quickly scaling up and prices continue to drop, the fossil fuel industry will be a key component of the global low carbon transition as clean energy technology continues to develop. Key stakeholders including global investors, regulators, and consumers, are pressing major oil and gas companies to disclose relevant metrics and set emissions reduction goals, invest in low carbon technologies, and make net-zero emissions pledges, among other sustainable initiatives.
Click here to view the report.
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About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
