Oil major pledges to become carbon neutral by 2030, drawing sharp criticism from climate activists

  • Lundin Petroleum said Monday that it will achieve carbon neutrality by reducing emissions from operations, improving energy efficiency and developing carbon capture mechanisms.
  • It comes as oil and gas companies face intensifying pressure from investors and climate activists over the role they play in greenhouse gas emissions.
  • The move has been sharply criticized by Greenpeace Sweden, with the climate activist group accusing the energy company of hypocrisy.

Sweden’s oil major Lundin Petroleum has pledged to become carbon neutral by the end of the decade, announcing plans to replace “Petroleum” with “Energy” in its name.

The company, which is one of Europe’s largest independent oil producers, said Monday that it will achieve carbon neutrality by 2030 by reducing emissions from operations, improving energy efficiency and developing carbon capture mechanisms.

It comes as oil and gas companies face intensifying pressure from investors and climate activists over the role they play in greenhouse gas emissions.

The move has been sharply criticized by Greenpeace Sweden, with the climate activist group accusing the energy company of hypocrisy.

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