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A Shell employee walks past the company’s new Quest Carbon Capture and Storage (CCS) facility in Fort Saskatchewan, Alberta, Canada, October 7, 2021.
Todd Korol | Reuters

As energy sector demand roars back and commodities market pundits talk about the return of $100 oil, there are new factors in the energy sector pushing producers to extract less — from greater fiscal discipline in the U.S. shale after a decade-long bust to ESG pressure and the ways in which energy executives are being paid by shareholders.

In 2018, Royal Dutch Shell became the first oil major to link ESG to executive pay, earmarking 10% of long-term incentive plans (LTIP) to reducing carbon emissions. BP followed suit, using ESG measures in both its annual bonus and its LTIP. While the European majors were first, Chevron and Marathon Oil are among the U.S. -based oil companies that have added greenhouse gas emissions targets to executive compensation plans.

The oil and gas companies are joining dozens of public corporations across all sectors — including Apple, Clorox, PepsiCo and Starbucks — that tie ESG to executive pay. Last week, industrial Caterpillar created the position of chief sustainability & strategy officer last and said it will now tie a portion of executive compensation to ESG.

As of last year, 51% of S&P 500 companies used some form of ESG metrics in their executive compensation plans, according to a report from Willis Towers Watson. Half of companies include ESG in annual bonus or incentive plans, while only 4% use it in long-term incentive plans (LTIP). A similar report from PricewaterhouseCoopers (PwC) found that 45% of FTSE 100 firms had an ESG target in the annual bonus, LTIP or both.

“We will continue to see the percentage of companies [linking ESG to pay] increase,” said Ken Kuk, senior director of talent and rewards at Willis Towers Watson. And although right now more than 95% of instances of ESG metrics are in annual bonuses, “there is a shift more toward long-term incentives,” he said.

A related survey by the firm last year, of board members and senior executives, revealed that nearly four in five respondents (78%) are planning to change how they use ESG with their executive incentive plans over the next three years. This reflects the current purpose-over-profit debate in the corporate world, with the environment ranking as the top priority.

Pressuring the fossil fuel industry

In 2020, petroleum accounted for about a third of U.S. energy consumption, but was the source of 45% of the total energy-related CO2 emissions, according to the U.S. Energy Information Administration. Natural gas also provided about a third of the nation’s energy and produced 36% of CO2 emissions. Oil and gas companies have largely abandoned coal, which accounted for about 10% of energy use and accounted for nearly 19% of emissions.

Investors are increasingly focused on ESG, and more have been pressuring the fossil fuel industry to shrink its global carbon footprint and the associated risks to operations and bottom lines. “The increase in momentum that the investment community has put around ESG is driving the discussion into climate [change],” said Phillippa O’Connor, a London-based partner at PwC and a specialist in executive pay. “We can’t underestimate the impact that investors will continue to have for the next couple of years.”

Investor input played a decisive role in Shell’s seminal decision, as well as those at competitors that followed suit. And while executive compensation wasn’t high on the docket at Exxon Mobil’s shareholder meeting last spring, the industry was gobsmacked when the climate-activist hedge fund Engine No. 1 won three seats on its board of directors. The coup, as it was roundly described, may ultimately deemphasize Exxon’s reliance on carbon-based businesses and move it more toward investments in solar, wind and other renewable energy sources — and in the process lead to ESG-linked pay packages.

“We look forward to working with all of our directors to build on the progress we’ve made to grow long-term shareholder value and succeed in a lower-carbon future,” Exxon chairman and CEO Darren Woods said in a statement shortly after the proxy vote.

Meanwhile, financial regulators also are eyeing climate change as a factor for investors to consider. The Securities and Exchange Commission has indicated that ESG disclosure regulation will be a central focus under new Chair Gary Gensler, from climate to other ESG factors such as labor conditions.

There’s nothing novel about incentivizing corporate leaders to hit predetermined targets, particularly for increasing revenue, profits and shareholder returns by certain increments. Oil and gas companies, because of their hazardous extraction operations — from underground fracking wells to offshore drilling rigs — have for years established incentives for improving workplace safety.

Following the Enron accounting and fraud scandal in 2001, meeting new governance mandates (Sarbanes-Oxley Act) was the basis for rewards. Then came added remuneration for achieving internal goals set for quality, health and wellness, recycling, energy conservation and community service — wrapped into corporate social responsibility. Sustainability then became the catch-all for establishing executive performance metrics around environmental stewardship, diversity, equity and inclusion (DEI) in the workplace and ethical business practices — all of which now reside under the ESG umbrella.

ESG is tricky, and existing carbon targets have critics

Although the trend is expected to continue, experts warn that the process can be tricky, and targets designed by oil and gas companies to combat climate already have critics.

Including emission-reduction targets in executive pay packages may compel oil and gas companies to walk their public-relations talk about being good corporate citizens. Yet the methodology can be challenging. “It’s not the what, but the how,” said Christyan Malek, an industry analyst at JP Morgan. For example, a company can state how much is has lowered its global carbon emissions in a given year. “But that’s very limited,” he said, “because they’re not disclosing their emissions by region,” which can widely vary from one location to the next. “When it comes to carbon intensity, it’s in the [overall] portfolio.”

Or a company can ply in greenwashing through carbon offsets. “I have massive emissions, so I’ll [plant] a bunch of forests, and that way I neutralize myself,” Malek said — while the company is still producing the same amount of emissions. “You’re disclosing in a way that’s better optically than it is in reality. Disclosure has to work hand in hand with compensation.”

The optics of oil and gas companies paying well for doing good might help the industry’s image among a general public increasingly concerned about the calamitous impacts of human-induced climate change, exacerbated by the latest, and most dire, related U.N. report and a string of deadly floods, hurricanes, heatwaves and wildfires. But experts focused on climate and the energy sector note that sector targets often don’t go far enough, related to reducing intensity of fossil fuel operations, not underlying production of fossil fuels, and dealing only with Scope 1 and Scope 2 emissions, not the Scope 3 emissions which are the largest share of the climate problem.

O’Connor said that companies should be careful how they align ESG metrics with incentives. “ESG is a broad and complex set of metrics and expectations,” she said. “That’s one of the reasons why we’re seeing a number of companies use multiple metrics rather than a single measure, to get a better balance of considerations and perspectives across the ESG forum. There isn’t a one-size-fits-all policy in this, and there’s a danger in trying to move too quickly and revert to some kind of standard.”

The pandemic placed an unexpected hard top on compensation incentives in 2020, and with the global economy decimated last year, Shell’s remuneration board decided to forego bonuses for CEO Ben van Beurden, CFO Jessica Uhl and other top executives, and there was no direct link in their LTIPs to delivery of energy transition targets.

The energy sector has roared back this year amid strong global economic growth and demand for oil and gas amid lower supply has led to a spike in prices. That could incentivize oil and gas companies to produce more, but at the same time, compensation to to energy transition targets ae going up. At Shell, the 2021 annual bonus is targeted at 120% of base salary for the CEO and CFO, which remain the same as set in 2020, at $1,842,530 and $1,200,900, respectively. Within this, though, progress in energy transition is now up from 10% to 15% of the total amount that can be awarded. In addition, energy transition is part of the LTIP which vests three years in the future, based on Shell’s 2020 annual report.

Oil prices have rebounded sharply amid limited supply and demand growth out of the worst of the pandemic, but more oil and gas companies are tying near- and long-term executive pay to energy transition targets, led by Royal Dutch Shell.

According to a 2019 McKinsey study, there is growing evidence that adopting ESG is not just a feel-good fad, but that when done right creates value. And that may be enough to convince more oil and gas companies to link it to compensation, especially because it’s one of the few industries where ESG is existential, Kuk said. “Sometimes we think about ESG in the context of doing good, and it is doing good. But I still believe there has to be a business reason for everything. And it’s only when you have a business reason that ESG will prevail.”

The deleterious role that carbon emissions play in climate change will continue to put pressure on oil and gas companies to embrace the International Energy Agency’s goal of achieving net-zero by 2050. Beyond complying with regulatory mandates, though, linking reduction targets to executives’ compensation may be a critical driver in affecting change. 

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Podcast: Tesla Robotaxi setback, Mercedes-Benz CLA EV, Bollinger is over, and more

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7 hours ago

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November 28, 2025

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Podcast: Tesla Robotaxi setback, Mercedes-Benz CLA EV, Bollinger is over, and more

electrek podcast

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss a big Tesla Robotaxi setback, the new Mercedes-Benz CLA EV, Bollinger is over, and more.

Today’s episode is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. Sales end on Dec. 8th for its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit CarbonRaffle.org/Electrek to learn more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

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After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:


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Segway’s latest E3 Pro smart e-scooter hits new $500 low, NIU Black Friday EV sale (47% off), Anker SOLIX, Lectric, Aiper, more

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November 28, 2025

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Segway's latest E3 Pro smart e-scooter hits new 0 low, NIU Black Friday EV sale (47% off), Anker SOLIX, Lectric, Aiper, more


Today’s Green Deals is another jam-packed Black Friday edition, with all the ongoing savings we’ve spotted up until today having been collected into our Black Friday Green Deals hub here for your one-stop shopping needs. Our headliner is Segway’s new feature-packed E3 Pro Electric Scooter with Apple Find My that is down at a new $500 low, with NIU’s full Black Friday EV sale following right behind with up to 47% taken off e-scooters and e-bikes starting from $279. There’s also Anker’s SOLIX C300X AC Portable Power Station and a bundle option at new low prices starting from $160, as well as Lectric’s newly launched 40% off e-bike accessory sale + increased 30% off e-bike extra batteries, a smart irrigation system, a battery jumper/power bank combo, and much more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page (and also in our Black Friday Green Deals hub), like yesterday’s expanded Rad Power Black Friday Sale lineup, the Black Friday savings on Anker eufy smart security devices at new lows, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Segway’s feature-packed E3 Pro electric scooter with Apple Find My hits new $500 Black Friday low (Save $200)

Segway’s Black Friday Sale is in full gear and currently seeing hundreds in savings and plenty of returning and new low prices on its e-scooters and e-bikes. One such standout is Segway’s latest E3 Pro Electric Scooter down at $499.99 shipped, and which seems to have disappeared from Amazon’s marketplace. Carrying a $700 MSRP since launching back at the top of October, we’ve only seen this model given $100 price cuts in its launch deal and the brand’s Halloween and early Black Friday sales. Now, with things having ramped up with increased savings now that Black Friday is in full swing, you can score a larger-than-ever $200 markdown to a new all-time low price, giving you an advanced upgrade to your commute that I have been loving so far since getting one a short time ago.

I’ve been riding around Brooklyn for a short time now with my own Segway E3 Pro Electric Scooter and have been loving my experience so far, as it’s a MAJOR step up from the very basic E22 model I’ve had for short travels since 2020. While power has been significantly ramped up from its E2 Pro predecessor, this new generation still retains a fairly lightweight 40-pound design, which I am able (as a not-so-strong person) to carry easily with one hand/arm up and down my second-story stoop.

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Segway’s E3 Pro comes bearing a 400W motor (with 800W peaking) alongside a 368Wh battery, the combination of which delivers up to 34 miles of commuting support for your travels at up to 20 MPH speeds. The regenerative brake paired with the brand’s SegRange Optimization tech really lends towards the extended travel times here, with safety taken into mind with the SegRide stability enhancement tech, the latest traction control system, turn signaling, RGB ambient lighting for nighttime journeys, and a bright headlight. What’s more, security is bolstered by the Apple Find My inclusion for those worried about tracking it down should theft (or forgetfulness) occur.

One thing I have really been enjoying, especially when riding over more pot-hole lined streets, is Segway’s E3 Pro’s dual elastomer suspension, which does a great job of smoothing out overall rides, while providing added cushioning when sudden, jolting sections of the road (or debris/trash) are driven over. Along with all those, there are also additional features, including the previously mentioned rear electronic regen brake getting a companion front drum brake, as well as 10-inch self-sealing jelly tires, an IPX5 water-resistant build, a 265-pound total payload, and a 3-inch full-color LED screen for setting adjustments.

Be sure to check out Segway’s full official Black Friday Sale while it lasts for a short while longer, which can save you hundreds at the best prices of the year starting from $150.

man and woman riding NIU KQi 200F electric scooters through streets in both day and night

Score up to 47% Black Friday savings on NIU EVs, like the 2025 KQi 200F e-scooter at its $529 low (Reg. $799), more from $279

NIU’s Black Friday EV Sale is in full motion now, taking up to 47% off its lineup of e-scooters and e-bikes, like the KQi 200F Foldable Handlebar Electric Scooter for $529 shipped, which you can currently only find in a used condition at Amazon. This is one of the brand’s newer 2025 models that fetches $799 at full price, which dipped down to this rate for the first time earlier in the month before these Black Friday savings. Now, you’re getting another shot at this all-time low price with $270 savings, giving you a solid commuter that sits among the mid-range models from NIU.

You can view the full lineup of NIU’s Black Friday e-scooter and e-bike deals in our original coverage here.

Anker SOLIX C300X power station charging drone and projector on rocks

Anker’s SOLIX C300X 90,000mAh portable power station + solar bundle option at new Black Friday lows from $160

As part of Amazon’s ongoing Black Friday Week Sale, and running parallel to Anker’s SOLIX Black Friday Sale, the brand’s official storefront is offering the C300X 90,000mAh Portable Power Station (misnamed on page as C200X) for $159.99 shipped. Normally going for $300 at full price, this alternate darker colorway beats out its standard grey colorway’s direct sale pricing by $40, with its Amazon pricing on that model also beaten out by the same amount. Discounts before October kept things above $189, with increased falls lower to 169 and $161 over last month and mid-way through this month, before this Black Friday deal dropped things to a new all-time low. Not only are you saving a total $140 here, but you’ll also be getting the best price tracked on the station’s 60W foldable solar panel bundle that’s down at a low of $240 shipped.

If you want to learn more about this model, be sure to check out our original coverage of these deals here, and be sure to also browse through Anker’s extended/expanded SOLIX Black Friday Sale in full here.

man and woman riding Lectric e-bikes
man holding Lectric e-bike battery
Aiper IrriSense smart irrigation system watering grass in yard
GOOLOO's GP4000 jump started connected to car battery

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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Tesla has sold ~100 cars since entering the world’s largest country in July

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9 hours ago

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November 28, 2025

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Tesla has sold ~100 cars since entering the world's largest country in July

tesla store how to test drive buy a tesla

Tesla’s much-awaited entry into the Indian market has resulted in very slow sales to start, but it may not all be bad.

We’ve covered the years-long effort of Tesla to enter the Indian auto market. There have been a lot of intentions and fits and starts, but due to protectionist schemes in the country it never made a lot of sense for Tesla to enter.

That changed this year in March, when India waived EV import duties, allowing foreign firms to bring their cars in for sale. While India does have some strong local brands in Mahindra and Tata, this opened the gates to Chinese, German, Korean and American brands – namely, Tesla.

So far, other American companies have declined to bring their EVs to India, but Tesla opened its first showroom in Mumbai, India’s most populous city and financial capital, in July of this year. It opened a larger “Tesla Center” showroom in Gurugram, outside Delhi, this week.

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So, Tesla is only getting started in India, but by all measures it has been an exceedingly slow start, according to the BBC.

Dealership data shows that Tesla has only sold “just over” 100 cars in India since July, an exceedingly low number by any measure – especially when considering the India is now the most populous country in the world, with a population of just under 1.5 billion.

Tesla’s rocky start included losing its head of Indian operations just before launching its first store, among a slew of other executive departures this year and last.

The numbers look a little less bad when comparing against EV sales in the country. While India has sold an impressive 2 million electric vehicles this year, the vast majority of them have been electric scooters.

Electric passenger cars are a much lower share at around 160k total unit sales this year so far, making up only around 3% of the passenger car market. And the majority of those are lower-cost domestic brands Mahindra and Tata or a growing section of Chinese challengers, with very few sales from overseas luxury brands.

Tesla could be included in that “luxury brand” list, largely due to the price of its imported vehicles. While the Model Y starts at $40k in the US, that price rises to 5,989,000 Rupees in India (~$67k USD). This is simply an unaffordable price for the vast majority of Indians – indeed, only around 1% of India’s auto sales are in the “luxury” category.

Further, EV infrastructure is not very well developed in the country. Tesla has one Supercharger in India, and two listed as “coming soon” in the Gurugram area. There are thousands of other charging points across India (and of course, drivers can charge overnight at home), but the number is still relatively low compared to the country’s population.

Meanwhile, other brands’ EV sales are growing well in India. The auto market as a whole has grown by about 13% this year in the developing country, but EV car sales have grown by 57% in the same period, rapidly outpacing the auto industry as a whole.

Much of that sales growth has been driven by Chinese EVs, which make up around a third of the market. That’s around ~60k Chinese EVs sold this year in India.

Even luxury German EVs from Mercedes, BMW and Audi have sold around 4,000 units so far this year, not a large number, but certainly dwarfing Tesla’s.

So while it’s tempting to look at Tesla’s poor numbers and make excuses about the size of the EV market, ability of Indians to afford luxury vehicles, or state of India’s charging network, it’s hard to compare that low ~100 sales number at any of the competition and label it as anything other than an extremely poor showing.

But, you do have to start somewhere, and the company is only a few months in. So we’ll have to see where it goes from here – though with the sales we’ve seen so far in Mumbai, entering the Delhi market is unlikely to forestall Tesla’s current global sales decline.

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