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Strike a balance
How scaling back on climate targets is impacting commerce
By Colin Gault
Much was made of the big energy companies scaling back their climate targets earlier this year as their profits hit record highs . For many , these scale-backs were disappointing given the increasing global focus on decarbonization . However , these decisions were influenced by a combination of factors .
A global pandemic , geopolitical tensions in Europe , and double-digit inflation were not foreseen when these companies first laid out their climate strategies . Even the most optimistic observers must have understood at the time that some adjustments were inevitable .
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