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The report argues that six major European oil and gas companies are backtracking on climate goals by reducing investments in low-carbon activities and increasing oil and gas production targets. It highlights a significant gap between these companies' strategies and the International Energy Agency's Net Zero Emissions by 2050 scenario, noting that fossil fuels still capture over 60% of planned investments. The document specifically details reductions in renewable energy targets for BP, Eni, Shell, TotalEnergies, and Equinor, while noting that none of the six companies plan to reduce fossil fuel production.