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BP expected to roll back green energy pledges to boost profit

The oil giant was criticised by environmental groups amid forecasts that it will roll back pledges made five years ago in a bid to boost profit.



BP is anticipated to roll back its green energy commitments and refocus on fossil fuels to boost profits, according to reports. Environmental groups have criticized the move, as BP, which had previously set ambitious climate targets in 2020, now faces pressure from shareholders due to declining profits and a lagging share price compared to rivals like Shell. BP’s new CEO, Murray Auchincloss, has indicated a strategic reset, while some investors and experts warn that reverting to fossil fuels could alienate shareholders and policymakers.

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