Despite reeling from the economic challenges and disruption brought on by a global pandemic, oil and gas leaders are expected to remain committed to decarbonization goals, according to new report from Deloitte.

Environmentalists have questioned the industry’s commitment to the energy transition as the collapse in oil prices have caused many companies to slash their budgets for the year. However, the Deloitte report shows 92% of the surveyed oil and gas executives reaffirmed their companies either already have a plan to reduce reliance on fossil fuels in place or one under development.

The Deloitte report, which surveyed 600 C-suite executives and other senior corporate leaders in the oil and gas industry globally, stated that most company leaders are making energy transition a strategic priority.

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