Oil giant BP to ‘significantly reduce’ investment in renewable energy for rest of decade

British oil giant BP is significantly reducing its investment in renewable energy for the “rest of this decade”, it said in a statement Monday, noting it was instead entering a joint venture with Japanese power company Jera to create one of the world’s largest offshore wind businesses. Since Murray Auchincloss became BP’s new chief executive in January, the company has scaled back on its climate targets.