Big Oil’s Green-Spending Boost Isn’t Enough, IEA Says

Big Oil’s Green-Spending Boost Isn’t Enough, IEA Says

The oil and gas industry is set to boost investments in clean energy this year, but that still won’t be enough to put the world on a path to limit a dangerous rise in global temperatures.

That’s the view of the International Energy Agency, which expects traditional fossil-fuel companies to increase climate-friendly investments to at least 4% of their capital spending, up from just 1% last year, according to a report Wednesday.

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