Renewed interest in hydrocarbon investment by international oil companies will trigger more lawsuits from environmental activists and increase pressure from shareholders focused on combatting climate change during the 2023 proxy season. More pressure from judges and investors focused on environmental, social and governance (better known as ESG) could force companies to walk back their investment plans in oil and gas or increase transparency about the climate impact of their activities, increasing the backlash against corporate leadership from investors opposed to a focus on ESG. With the time of year when corporations present their annual earnings drawing to a close, five of the oil and gas industry's six supermajors — BP, Chevron, ExxonMobil, Shell and TotalEnergies — reported record net profits for 2022 totaling nearly $200 billion collectively, with the sixth supermajor, Eni , due to release its annual figures Feb. 23.