Major trend emerges for net-zero targets

Several oil and gas companies including BP and Equinor have adopted long-term net-zero emissions targets and it seems inevitable that more will follow

Global major BP and US-based independent Dominion Energy announced in February they have joined the ranks of energy companies adopting a long-term net-zero emissions target. The differing scope and size of these two players illustrates the breadth of a trend that has started to become established in the sector over the past few months. A net-zero target is particularly challenging for energy producers and for BP it will require a dramatic overhaul of its operations. But decarbonisation is increasingly being prioritised by businesses and governments, and more energy firms are very likely to follow suit. The two latest announcements may well accelerate the pace of net-zero goals being adopted