We are sliding back in time, as corporations pinch profits it’s only going to hurt people and environment downstream.

BP, a British oil giant, said that it would shift back to fossil fuels, about 25 years after it vowed to turn green. It will increase investment in oil and gas projects by $10bn a year, and cut spending on renewables by $5bn. On February 11th it reported that fourth-quarter profits dropped by 61% compared with the same period the previous year

Stellantis, owner of car brands such as Citroën, reported that net profit in 2024 was €5.5bn ($5.8bn), down 70% from the year before. Shares have toppled by around 45% in the past year.