Fossil fuel companies control a mere 1.42% of renewable energy projects worldwide, study reveals

4 comments

1. “Drawing on data from Global Energy Monitor, the study analyzes the world’s 250 largest oil and gas producers—responsible for 88% of global hydrocarbon output—and identifies 3,166 unique wind, solar, hydro and geothermal projects in which these companies have a stake, whether directly, through subsidiaries, or via acquisitions.

   The results show that only 20% of these 250 companies own a renewable energy project in operation, with renewable energy representing a mere 0.1% of their primary energy extraction.”

2. If anyone was curious as to why they continue to try to kill renewable projects through government lobbying and bribes

3. In terms of power, what % of power plants do they own? I imagine that is <1%

   Fossil fuel companies don’t generate power.

   Power companies are the ones burning fossil fuels for the energy, and building out renewables for dispatch to the grid. If we focus subsidies on geothermal, hydro, wind, tide and solar we would reduce the demand for fossil fuels. Or maybe we wouldn’t considering the increase in demand for KwH from data centres. Maybe we could keep pace.

4. But they said they were our partners in this transition and even released new green logos. I’m shocked that was just marketing!

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