Following the breakthrough at the United Nations COP21 conference last year, countries and businesses are now being scrutinized to make sure they implement the correct strategies to deliver a greener future.
And as zero-carbon fuels gain more traction, oil majors will have to embrace the new energy world, or face getting left behind.
"Global energy trends are changing. Sixty percent of global energy demand growth over the next 20 years will come from either gas or zero-carbon fuels such as wind and solar," Paul McConnell, research director of global trends for Wood Mackenzie, told CNBC Friday.
"So the majors are under pressure to articulate some sort of response to this challenge of a lower carbon world and to de-risk their legacy operations."
When it comes to embracing this greener future, oil operators will be facing a balancing act between incorporating more eco-friendly strategies, while sorting out their oil operations. As a result, Wood Mackenzie believes it's likely that oil majors will be taking one (or more) of three core strategies: decarbonizing, capitalizing and grow.
"So decarbonizing is really about looking at your legacy performance as an oil and gas operator and trying to reduce the greenhouse gas footprint, and we would probably put most of the American producers in that bucket."
"Capitalizing is more about using your abilities, perhaps in marine engineering to move into things like offshore wind, maybe a bit more organic growth. And 'grow' is some of the European majors reflecting the strategy — it's about accelerating the move into renewables, buying solar companies, buying [energy] storage."