(29 October 2021) Amid worldwide efforts to achieve "net-zero" carbon emission targets, economic activities associated with intensive carbon emissions are losing attractiveness for investors. Forbes data on global corporations shows that between 2011 and 2021, the number of oil and gas companies among the 30 world's largest companies decreased from six to only one — Saudi Aramco, which went public in 2019. At the same time, the capitalization of ICT (information and communications technology) companies in the list of 30 world's largest companies has significantly outperformed that of all other sectors.

With investors preferring to allocate capital in digital assets, will the oil and gas sector get enough capital to maintain the production of hydrocarbons, on which the world is still heavily dependent?

Methodology note: Forbes re-named and adjusted definitions of some industry categories between 2011 and 2021. The 2021 data in tables below is as of May 2021.

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