Petronas targets net zero emissions by 2050

Petronas said today it aims to become a net-zero emitter of greenhouse gases by 2050 and also plans to increase its investments in renewable energy.

Burning of oil and gas accounts for the vast majority of the world's carbon emissions, and many investors have pushed global oil majors to do more to combat climate change.

Petronas, the world's fourth-largest exporter of liquefied natural gas, said it will intensify its efforts toward reducing the so-called Scope 1 and Scope 2 greenhouse gas emissions, referring to direct emissions from operations and...