For decades, oil companies like Exxon, BP, and Shell have thrived on fossil fuels. Yet today, these very giants are also investing in renewable energy, carbon capture, and even EV battery materials. The question is: why would companies built on oil pour resources into green alternatives?

The reasons are layered. First, diversification, energy markets are volatile, and clean energy acts as a hedge against oil price swings. Second, customer demand, businesses and individuals increasingly want cleaner energy options, and companies don’t want to miss future profits. Third, cost savings, using wind or solar to power their operations often cuts expenses.

Public pressure also plays a big role. Governments, activists, and even shareholders demand climate action. To respond, companies set emission targets and launch renewable projects, though critics often dismiss these moves as “greenwashing.”

Some, like Denmark’s Ørsted, have completely transformed from fossil fuels to clean energy leaders, showing what’s possible with political support and vision. But for most oil majors, a full pivot remains unlikely, at least for now.

The bigger question lingers: are these investments a genuine step toward sustainability, or just a strategy to secure profits in a changing world?