Major energy company faces backlash after making U-turn on company promise

March 23, 2025

Norwegian multinational energy company Equinor has rolled back its previous commitments to renewable energy while also increasing oil and gas production.

What’s happening?

The company announced in February that it would make hefty changes to its investments in renewable energy, cutting them in half over the next two years. Anders Opedal, the chief executive of Equinor, told the BBC, “We are scaling down our investments in renewables and low carbon solutions because we don’t see the necessary profitability in the future.”

These decisions by Equinor to not only roll back renewables but to push gas and oil further forward have left the public disappointed and worried about the future. While the massive company sees a clear potential for a rise in profits, these profits are at the expense of our environment.

Why are these cuts important?

According to an article in Reuters, Equinor is following the lead of fellow massive companies, like BP and Shell, which have also cut down renewable energy plans, especially offshore winds. The Reuters article reports that the company is revoking a prior 2030 target to “allocate 50% of gross capital expenditures to renewables and low-carbon solutions.”

The Equinor press release on these changes follows the typical rules of greenwashing, hiding the environmental damage in strenuous details about profit gain. The overlying premise of their statement is that sustainability is not as profitable to them as natural gas and oil.

By increasing the production of these expensive, polluting fuels, the negative effects on the planet continue, including overheating the planet, leading to heat waves, droughts, and food shortages. Furthermore, their production infiltrates our air quality, directly leading to health concerns for humans, such as premature deaths and asthma exacerbations.

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Meanwhile, many other diversified energy companies have continued to invest in renewables and nuclear, such as NextEra and Constellation Energy.

What can I do to help reverse the effects of these cuts?

Renewable energy forms — such as solar or wind — are the future of power, as their fossil fuel alternatives like coal, oil, and gas release toxic pollutants upon being burned, which gradually damage the Earth and its atmosphere. Furthermore, renewable energy sources are more affordable for consumers once built. Not only do these options make for a cleaner world, but they actually cost less, with no need to ship fuel around and risk spills or explosions.

On top of actually integrating renewable energy into your life, being aware of changes like Equinor’s recent ones can help the public hold these major companies accountable.