Organizations in the oil and gas sector are on a strong recovery trajectory following the extreme conditions of 2020.

Demand for oil and gas remains high and the sector is investing to develop reliable sources of supply.

Many institutional shareholders support this, pushing companies to maximize profits by increasing the focus on traditional oil and gas projects.

But many other shareholders demand that companies scale back on such projects and commit to more ambitious climate-related targets.

These contradictory views are a symptom of a more fundamental paradox, one that defines today’s oil and gas sector, where the existential threat of climate change clashes with the enormous global demand for petroleum-based products.

At its core, it is a paradox of transition — of how fast the world can make a secure, global, and equitable transition to a low-carbon future