As American tech companies dominate the S&P 500 while facing challenges from fresh-faced startups and increased global competition, the saying “innovate or die” has never felt truer. This is particularly true in the energy sector as companies try to meet growing energy needs while also hitting climate goals. Major oil and gas companies are going to be instrumental in addressing both problems.

While many people remain skeptical about their intentions, major oil and gas companies are increasingly investing in clean energy projects. They are pouring funds into wind, solar, and bioenergy ventures and are also actively participating in research and development into cutting-edge technologies.