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In the evolving global energy economy, methane emissions have become a critical variable in the oil and gas industrys long-term performance. Yet despite this momentum, oil and gas methane emissions remain unacceptably high. Yet despite this momentum, oil and gas methane emissions remain unacceptably high.
The uncertainties centre on Equinor’s backing for new “net zero” gas-fired power plants fitted with technology to capture carbon dioxide (CO2) billowing from their smokestacks, and bury the gas in disused oil and gas fields under the North Sea. percent of the UK’s current yearly emissions.
New funding builds on unique partnership to tackle potent methane emissions between Bloomberg Philanthropies, Carbon Mapper, Planet, the State of California, NASA Jet Propulsion Laboratory, the University of Arizona, Arizona State University (ASU), High Tide Foundation, and RMI . The pledge needs to be matched with bold solutions.
Electrification holds the key to cleaner, more efficient energy distribution and use. But fully realizing its promise demands balancing tech innovation with collaboration across industry, says Massimo Muzzì, head of strategy, business development and sustainability at ABB Electrification. C by 2050 remains achievable.
utility can reach net-zero carbon emissions by 2050 while still keeping natural gas as a central part of its business, both to generate electricity and to sell to its customers. That includes a recommitment to reaching its 2030 goal of reducing carbon emissions below 50 percent of their 2007 levels, potentially ahead of schedule.
Biomethane from sewage, renewable power, peatland restoration, and tree planting feature heavily in Water UK's sweeping new decarbonisation roadmap. The new plan envisages the development of up to 3GW of new onsite solar and wind generation capacity in order to meet around 80 per cent of the industry's power demand.
Only a handful of super emitters are responsible for an enormous amount of the methane pollution in the Permian basin, according to a new study. Methane is a highly potent greenhouse gas — more than 80 times more powerful than carbon dioxide over a 20-year time-frame. That’s equivalent to about 5% of the U.S.
Actionable Insights for a Decarbonizing World National oil companies & global finance Unlocking opportunities to reduce methane emissions Reaching global methane goals requires national oil companies to slash methane emissions. Even with majority government shares, private investors can influence NOCs to address methane.
Xcel Energy, provider of electricity and natural gas services to nearly 6 million customers in eight Western and Midwestern states, has committed to achieve net-zero greenhouse gas emissions from its natural gas business by 2050. Xcel Energy’s aggressive, forward looking plans for clean energy are welcomed news.".
By Faye Bowser, Head of Energy Solutions, Siemens plc. How do we find the energy and ideas now to put in place the changes needed to sustain our collective trajectory to 2050, and also identify the next set of ‘big wins’ for industry? We have already exceeded our interim global business goal of cutting CO2 emissions by half by 2020.
Cloud-based geospatial analytics firm uses imagery and machine learning to monitor environmental changes such as methane emissions. BP Ventures said the technology could potentially play a key role in supporting BP's pledge to install methane measurements across all its major processing sites by 2023.
Titled Renewable Hydrogen - Seizing the UK Opportunity , the report calls on the government to back the development of 'green hydrogen' - produced using renewable energy - by supporting the renewable sector as it attempts to replicate the success of the UK's offshore wind industry. the RenewableUK study argues.
Tackling methane from oil and gas operations among 'best near-term opportunities’ for combatting climate change, IEA argues. Methane, which is largely released from abandoned coal mines, oil and gas operations, and farming, has a far greater global warming potential than CO2.
In recent testimony, Nuvve CEO Gregory Poilasne told the lawmakers that bidirectional charging can reduce the total cost of EV ownership, and that it’s essential for integrating more renewable energy into the grid. Going bi adds several nifty new benefits to driving electric. What did you tell the folks in Sacramento?
You need to remove policy hurdles such as in the Renewable Energy Directive, so that you can faster scale the hydrogen economy in Europe, and use that to build out the infrastructure”, Simon Herbert, ExxonMobil’s vice-president of low carbon solutions, told the World Hydrogen 2024 conference in Rotterdam last week.
But, as the Institute for Energy Economics and Financial Analysis’ energy finance analyst Bruce Robertson told DeSmog, even they “haven’t been able to get it right”. . Adopting this technology therefore adds significant costs to fossil energy production when it’s applied to that industry. Gorgon is led by U.S.
Thanks to myriad technologies - hydrogen hydride batteries, EV batteries, home solar power, and other renewables - the UK energy grid could look very different in 2030, writes Plextek's Laurence Weir. Energy generation in the UK will have to look dramatically different if we are to meet our promised carbon targets by 2030.
Decarbonizing Oil and Gas Methane is a powerful greenhouse gas, responsible for more than one quarter of the warming we are experiencing today, and global oil and gas production is a major source of methane emissions. 19 of the top 20 publicly traded companies have set methane targets. can open the door.
Despite the tense, last-minute drama, the Glasgow Climate Pact sends a very clear investment signal to businesses and financial institutions, argues Nick Molho from the Aldersgate Group. This is understandable, but it should not detract from the very clear signals that the business and investment community have been sent at COP26.
By Tom Murray This week, business executives, tech entrepreneurs, and investors met in Aspen, Colorado at the Fortune Brainstorm Tech 2019 conference. This annual gathering brings movers and shakers together to discuss the latest tech trends and how businesses can find a competitive edge in a fast-paced marketplace.
It’s used to gain a financial advantage that’s often short lived and can expose businesses to long-term financial risk. As business leaders and employees , we must understand the nature of corporate greenwashing. In this Green Business Bureau article, we define corporate greenwash. What is corporate greenwash?
Virtually eliminating methane emissions is a critical complement to CO2 reductions and essential to bending the curve of greenhouse gas emissions from the oil and gas sector by 2030. Q: Why is reaching near zero methane emissions an important issue for BP and its U.S. onshore upstream company BPX Energy?
In the latest addition to its 'green recovery' package, the European Commission yesterday unveiled a flurry of crucial green strategies, targets, and policies, ranging from new green building and renewable energy programmes, to tighter rules governing chemical use and methane emissions.
The gas can be produced either through the electrolysis of water using renewable power to create green hydrogen or through its extraction from methane, a process that produces carbon dioxide as a by product that can then be captured and stored resulting in so-called blue hydrogen.
Business as usual for the oil and gas industry is over. Investor confidence is flagging just as the talent pool shrinks and competition from cleaner energy sources intensifies. Ben Ratner, Senior Director, EDF+Business. Actively supporting climate policy isn’t just the right thing to do, it’s good business.
Report argues promised 30 per cent cut in methane emissions will be extremely difficult to achieve without tackling livestock numbers. A new report has today warned the EU "cannot deliver" on the commitments it has made under the Global Methane Pledge without cutting livestock numbers. per cent by 2030.
The ongoing conflict in Ukraine and the subsequent sanctions against Russia have highlighted Europe’s vulnerability when it comes to energy security. TES is a green hydrogen company that will accelerate the energy transition through its ambitious plans to develop a green hydrogen hub at Wilhelmshaven in Northern Germany.
All the winners and highly commended entries from the UK's most prestigious green business awards Last night over 550 top green business leaders, investors, entrepreneurs, and campaigners gathered in central London for the second annual UK Green Business Awards.
It’s packed with energy; per unit of weight, at least 60 times as much as the lithium-ion batteries used to propel electric cars. In the presence of the sun’s rays, nitrogen molecules set of a chain of reactions that produce ozone and destroy free-floating atmospheric methane. It’s also terrible for the climate. Others warm it.
Adopting net-zero by 2050 benchmarks will allow banks to minimize portfolio-wide climate risks and capitalize on the financial opportunities of the energy transition. Ben Ratner, Senior Director, EDF+Business. Already, the EU and UK require banks to monitor their climate risk. Why it matters. degree scenario.
BusinessGreen brings you an overview of the key business takeaways from the Glasgow Climate Summit. Forward-thinking businesses and financiers are set to be agents of change as governments look for ways to turn ambition into action - a role that is clearly not lost on the many business leaders represented at the SEC Centre in Glasgow.
The latest report from the Energy Transitions Commission has set out a roadmap for how the world can move on to a 1.5C It is a daunting task, but one governments and businesses have no option but to complete if they want to avert a rolling climate crisis. pathway by 2030. pathway by 2030. in the current decade?
Virtually eliminating methane emissions is a critical complement to CO2 reductions and essential to bending the curve of greenhouse gas emissions from the oil and gas sector by 2030. Q: Why is reaching near zero methane emissions an important issue for BP and its U.S. onshore upstream company BPX Energy?
To identify the powerful actors most actively lobbying against these key EU regulations and policies, DeSmog analysed corporate reports, lobbying records, official position papers, responses to public EU consultations, media events, and meetings held with various EU bodies over the past two years. Meet the Industry Trade Groups.
Emissions include carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O) and (commonly measured through what is known as carbon dioxide equivalents or CO2e). GHGs are caused directly and indirectly by human activity especially energy (73%). The impacts of GHGs are being felt here and now. degrees Celsius or 2.7
Against this backdrop, EDF+Business is pleased to launch ESG By EDF , a new platform to help equip the finance community with actionable insights for a decarbonizing world. Companies flared 142 billion cubic meters of gas last year, according to the World Bank, or about 4% of global natural gas production.
Countries and companies have also kicked off pledges to triple investments in renewables and nuclear, drive down methane emissions, and commit loss and damage funds. In deals, major funding includes $116M for hydrogen-powered aviation, $44M for sustainability software, and $75M in project finance investment for SAFs.
VERGE Energy Conference (VERGE 20) will take place on October 26-30, 2020. This online event can be attended from anywhere, The central theme at VERGE 20 will focus on how energy systems can be decarbonized, decentralized, digitized and democratized.
It’s used to gain a financial advantage that’s often short lived and can expose businesses to long-term financial risk. As business leaders and employees , we must understand the nature of corporate greenwashing. In this Green Business Bureau article, we define corporate greenwash. What is corporate greenwash?
According to a recent UN Intergovernmental Panel on climate change (IPCC), global emissions will need to be reduced by half by 2030 if we are to keep temperatures from rising beyond acceptable limits (1.5 GHGs are caused directly and indirectly by human activity especially energy (73%). degrees Celsius or 2.7 A total of 33.1
A new league table has highlighted how the global electric vehicle market is continuing to rapidly expand, with China seeing sales of zero emission models top three million units last year. The new analysis from electric vehicle subscription service Elmo confirms that China remains the largest EV market by sales, with nearly 3.4
The curbing of emissions to reduce the concentration of greenhouse gases such as carbon dioxide and methane in the environment. COP is the decision-making body responsible for monitoring and reviewing implementation of the UNFCCC. Energy transition. It is the first to explicitly reference reduction of unabated coal usage.
California's new decarbonisation plan, Austria's windfall tax, and global methane reduction efforts. The agency said the strategy represened an unprecedented effort to drastically slash pollution and accelerate the transition to clean energy. "No It's a war dividend': Austria announces windfall tax on energy giants.
Only 16 per cent of banks in the Alliance, which represents around 40 per cent of the world's banking assets, have set overarching interim emissions reduction targets for 2030 or sooner, leaving many flying blind in their commitment to meet net zero by 2050, according to the campaign group. world.".
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