As governments face fiscal constraints, oil and gas firms must help finance the transition to green energy
The green energy transition risks stagnating. Despite governmental and corporate pledges, only 20 per cent of total investments in 2015 were allocated to renewables. A major roadblock is that government finances are stretched thin globally. Nader Virk and Giulia Fantini write that the shift towards green energy generation, transmission and distribution primarily hinges on investments by oil