Following agreement to constrain global warming to ‘well below 2°C’ at COP21 in Paris, businesses, as well as governments, will be obliged to demonstrate how they will be 2°C compliant.
After two weeks of intense negotiations and lobbying, the agreement reached by the global community at COP21 in Paris sets an agreed target to constrain global average temperature rise to ‘well below 2°C’, with an ultimate target of 1.5°C. It is clear that with voluntary commitments made by many of the world’s nations in Paris resulting in a predicted temperature rise of 2.7°C, much more is yet to be done.
“After Agreement in Paris, businesses will need to be 2degC compliant” Read More
Yesterday’s news regarding the withdrawal of the £1 billion capital subsidy by a government who only six months ago were firmly committed to CCS as part of their election manifesto was a shock for many people across the energy industry. It was not announced as part of the 2015 spending review, but was part of the collateral damage of budget cuts at DECC which was quietly announced to the UK Stock Exchange at 3pm through a short statement of 56 words – equivalent to just three tweets.
“Have Reports of the death of CCS in the UK been greatly exaggerated?” Read More
The announcement on the 6th November that ExxonMobil are to be investigated by the New York state attorney-general for misleading the public and investors regarding climate change risks, marks the start of a new chapter in the need for oil and gas companies to face up to the reality of climate change.
“ExxonMobil to be investigated over climate change risk claims” Read More
On Tuesday 13th October Hazel Clyne gave a presentation for the Energy Institute (Aberdeen, Highlands & Islands branch) on the Status of Carbon Capture & Storage within the UK.
As a technology that can prevent carbon dioxide from fossil fuel emissions entering the atmosphere, Carbon Capture and Storage (CCS) is an attractive solution which needs to be made commercially viable.
The presentation summarises the status of CCS development activity in the UK from publically available information, including; a summary of project concept development activity to date, the status of the two CCS projects in the DECC CCS Commercialisation Competition, highlights of other potential key CCS projects (Caledonia, Teesside Collective, Don Valley) and an overview of the DECC storage appraisal project ongoing.
To view the slides from Hazel’s presentation as a PDF click here.
To read the Energy Institute’s write-up of the evening click here.
The oil and gas industry is currently in crisis — supply exceeds demand and has resulted in oil prices falling to less than half their value of 12 months ago. According to the Financial Times in June 2015, this has led to postponement or cancellation of ca. $200 billion worth of projects worldwide (Adams, 2015). The industry is restructuring and many staff are being laid off; figures quoted in June 2015 indicate 150,000 worldwide (Eaton, 2015).
“Adapting to a Low-Carbon Future: A Blueprint for the Oil and Gas Industry” Read More