Total (TTE.US) and BP p.l.c. Sponsored ADR (BP.US) and other major energy giants have joined forces to invest $500 million to promote energy acquisition.

Energy giants TotalEnergies (TTE.US), BP p.l.c. Sponsored ADR (BP.US), Shell (SHEL.US), and Equinor (EQNR.US) announced a $500 million joint investment commitment aimed at increasing access to sustainable modern energy for people. The investment plan was formulated at the United Nations COP29 climate summit held in Azerbaijan. These companies said their joint investment will primarily focus on Sub-Saharan Africa and Asia, helping more people access electricity to improve cooking conditions. BP p.l.c. Sponsored ADR CEO Murray Auchincloss said, "It's still early stages, but we hope to make a greater contribution in addressing the real challenges of energy access through this joint investment."