By Julia Payne
By Julia Payne
LONDON, Feb 12 (Reuters) – The world’s largest oil merchants are pouring a whole bunch of tens of millions of {dollars} into climate-friendly initiatives – together with wind farms, cow manure vegetation and blue hydrogen – as they search to match the earnings they make from buying and selling oil.
The power trade as a complete faces an existential risk from the shift to a decrease carbon future and faces rising strain from traders, governments, activists and financiers to discover a sustainable enterprise mannequin.
For oil buying and selling homes, the problem is extra acute, as their revenue margins have already shrunk attributable to elevated competitors, regulatory scrutiny and rising trade transparency.
Buying and selling companies comparable to Vitol and Trafigura have already put cash into wind farms, hydrogen, photo voltaic, EV know-how, biofuels and biomethane as potential replacements for oil, historically their huge revenue driver.
However like the large worldwide oil firms they’ve…