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Article
Among its pledges are a 40 percent reduction in its oil and gas output by the end of the decade.
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Engine marker pledges to boost low-carbon technology R&D and reach net zero across its operations by the end of the decade, as it announces plans to cut 3,000 jobs across the U.K. amid coronavirus crisis.
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While some investors welcomed the latest net zero pledge from a leading oil giant, others believe the announcement was a 'clear attempt to stave off a shareholder rebellion at its AGM.'
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UBS analysis suggests the pandemic is set to curb air travel growth 10 percent over the next decade as high-speed rail flourishes.