The US second largest oil major – Chevron – has bent rather than buckled under investor pressure as it starts ramping up support for renewables. Resisting the European approach of pledging itself to net zero emissions, the company has instead opted to triple its ‘low-carbon’ investment, which will still be dwarfed by oil and gas spending. Chevron now claims that it will spend $10 billion on reducing its carbon footprint between now and 2028, by which time the group is hoping to have reduced its greenhouse gas intensity by 35% from 2016 levels. This figure will represent less than a mere 10% of the company’s planned spending between now and 2025, and just a fraction of it will go directly…