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Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020

GreenBiz

Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.

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BP, Shell, oil giants fund research into mobile carbon capture from ships at sea

GreenBiz

BP, Shell, oil giants fund research into mobile carbon capture from ships at sea. Carbon capture will play an important role in reducing overall greenhouse gas emissions, but there's no reason it needs to be limited to stationary applications," said Michael Traver, head of OGCI's transport workstream. Michael Holder.

Carbon 392
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Norwegian Oil Giant’s Plan to Capture UK’s Carbon Is Fraught With Risks

DeSmogBlog

This story is the sixth part of a DeSmog series on carbon capture and was developed with the support of Journalismfund Europe. Norwegian state-owned oil and gas company Equinor, the North Sea’s largest fossil fuel producer, is positioning itself to play a key role in plans to turn Britain into a world leader in capturing carbon.

Carbon 140
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In stopping climate change, time is as important as tech

GreenBiz

A useful way to think about the effort and timescales required is to consider the " Carbon Law ," which was coined by my friend Johan Rockström. So, what does the Carbon Law say? To keep within the remaining carbon budget for 2 degrees C, we have to cut our emissions drastically, reaching net-zero emissions as soon as possible.

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HSBC is latest bank to pledge net-zero financed emissions by mid-century

GreenBiz

The bank, currently Europe's second largest financier of fossil fuels, has committed to reaching net-zero across its supply chain and operations by 2030, before reaching net-zero across its customer portfolio 20 years later. That's just science, not finance.".

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Global warming is projected to exceed 1.8°C, according to McKinsey report

Envirotec Magazine

Nonetheless, the long-term transition to low-carbon energy systems continues to see strong momentum and, in several respects, acceleration. Hydrogen demand is expected to grow 4-6x by 2050, driven primarily by road transport, maritime, and aviation. C by 2100, and reaching a 1.5°C C pathway is increasingly challenging.

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Net zero by 2050 is “too little too late”: Scientists make a case for net negative strategies

Envirotec Magazine

A report published on 26 August by an independent group of experts warns that reaching net zero greenhouse gas emissions by 2050 is now “too little too late”, and will not achieve the long-term temperature goals identified in the Paris Agreement to limit global warming to 1.5°C license ). C by the end of the century.