It appears to be part of a “systematic campaign to portray themselves as pro-climate to the public,” InfluenceMap program manager Faye Holder told CNN. Still, InfluenceMap says the companies’ imbalance between “green” messaging and investment is striking. And the company noted the InfluenceMap analysis does not account for investments outside of its Renewables and Energy Solutions division – investments such as electric vehicle charging, biofuels and sustainable aviation fuel, all of which climate scientists have said are important in the effort to wean off fossil fuel. Shell, for example, says it plans to spend 12% of its capital expenses on renewable energy this year, up from 10% in 2021. In some cases, those figures are on the rise. InfluenceMap then calculated the amount of money the energy companies expected to spend on green investments last year and found on average just 12% of their capital expenditure budgets were going toward what the companies themselves consider low-carbon or renewable activities. The think tank analyzed 3,421 items of public communications materials for 2021 across the five companies and found that 60% of their messaging contained at least one “green” claim. Oil slides to fresh seven-month lows as selloff deepens (Photo by Tayfun Coskun/Anadolu Agency via Getty Images) Tayfun Coskun/Anadolu Agency/Getty Images If the 30 corporate emitters highlighted in the GEM report reduced their methane emissions to zero, this would account for more than 80% of the total reductions envisioned for the fossil fuel sector to meet the 2030 pledge, Inman said.NEW JERSEY, USA - MAY 11: An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on May 11, 2022. More than 120 countries have signed the Global Methane Pledge, a US and EU-led effort that aims to slash methane emission at least 30% by the end of this decade and maintain a pathway that limits global temperature increases to 1.5 degrees Celsius. “About half of oil and gas methane emissions could be eliminated at no net cost to the companies, since they would capture more natural gas and be able to sell it.” This shows that these emissions are avoidable,” Mason Inman, one of the authors of the report, said. “There are vast differences between countries in how much methane they emit for each unit of oil and gas they extract. Read more: The Cheap and Easy Climate Fix That Can Cool the Planet Fast It has more than 80 times the warming power of carbon dioxide during its first two decades in the atmosphere and is responsible for around 30% of the global rise in temperatures since the industrial revolution.įor decades, fossil fuel producers deliberately released methane if they didn’t have the infrastructure to get it to market, but governments and institutions including the International Energy Agency are now calling on them to halt all non-emergency releases of the gas. That action is seen as one of the easiest and cheapest ways to cool the planet fast. Methane is the primary component of natural gas but can also be generated during oil and coal production. Gazprom said it “consistently reduces the impact of its production activities on the environment” and has “minimal methane emissions throughout the entire production chain.” China Energy and Iran’s oil ministry and company did not immediately respond to requests for comment. They include state-owned oil firms, publicly-listed energy majors and big coal producers, with National Iranian Oil Co., Russia’s Gazprom PJSC and China Energy Investment Corp. Just 30 fossil fuel companies account for nearly half of the planet-warming methane emitted by the world’s energy sector, according to a new analysis by Global Energy Monitor.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |