Exclusive:Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

byDamian CarringtonandMatthew TaylorWed 11 May 2022 07.57 EDT

Jump to…Code redPlans to expandCarbon bombsThe moneyThe transitionRace against time

The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows.

The exclusive data shows these firms are in effect placing multibillion-dollar bets against humanity halting global heating. Their huge investments in new fossil fuel production could pay off only if countries fail to rapidly slash carbon emissions, which scientists say is vital.

The oil and gas industry is extremely volatile but extraordinarily…