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Petronas says anti-corruption probe found no wrongdoing

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Petronas says anti-corruption probe found no wrongdoing

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Natural Gas News
Petronas says anti-corruption probe found no wrongdoing

Summary

Malaysia's Anti-Corruption Commission (MACC) last week said it is investigating allegations of corruption involving Petronas and an international oil and gas company. [Image: Petronas] by: Shardul Sharma

Malaysian state-owned energy company Petronas on May 27 issued a statement saying that the country’s ant...

Related Knowledge Center: Climate economics

State of Play

Climate change is now a driver of the world’s economy. The impact is profound:

  • Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
  • Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
  • Investment in carbon capture and storage technologies is increasingly rapidly.
  • Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases. 

On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”

More informationabout Climate economics