BP slashes renewables investment and boosts fossil fuel production

Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just$1bn to $2bn (£790m to £1.58bn). Funding for further oil and gas extraction will grow to$10bn (£7.9bn) annually as the business shifts focus back to its original mission of extracting fossil fuels.Money blog: BA named joint worst airline out of ...