Policy makers and regulators around the world need to take further steps to support the energy transition to a lower carbon future, oil and gas executives say. Companies say that policy makers’ focus should be on reducing CO2 emissions, rather than hastily abandoning fossil fuels in favour of renewables. 'The transition has to be at least as much about how we burn fossil fuels as about new sources of energy,' trading and mining firm Glencore’s chairman, and former BP chief executive, Tony Hayward told the FT Energy Transition Strategies Summit in London. 'We have got to get to the point where there is much more focus, support and policy directed at driving a lower carbon intensity of fossil fuels.'
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