The oil industry’s drive to show investors and the world that the sector is taking climate change seriously has reached the largest Russian oil producer, state-controlled Rosneft, which has just pledged to invest US$5 billion in environmentally-friendly projects within the next half decade. Rosneft will invest in projects to curb carbon dioxide (CO2) emissions and for better utilization of associated petroleum gas, Reuters quoted Rosneft as saying on Monday. The Russian oil firm will also look to reduce its greenhouse gas (GHG) emissions by 8 million tons through 2022, according to Reuters. Rosneft’s commitment to invest in reducing carbon emissions comes days after UK-based supermajor BP, which holds nearly 20 percent in the Russian oil giant, announced plans to become a net zero company by 2050 or sooner. Last week, BP said that it aims to become a net zero company by 2050 or sooner in the latest pledge […]