Column / Harder Line

Investing like it’s 1999: Inside BP’s return to renewables

Oil barrel with plants and butterflies
Illustration: Rebecca Zisser / Axios

After investing billions of dollars into renewables 20 years ago and then mostly bailing after big losses, oil giant BP is ramping back up in this space.

Why it matters: BP’s new moves are one of the most concrete signs the world’s biggest oil companies are slowly investing more in greener businesses, driven by a handful of market and policy trends. The investments represent just a drop in the bucket of the oil producers’ businesses, but they’re nonetheless happening despite President Trump’s agenda.