So while you & I might think its necessary to speed up the Green Transition & enhance/accelerate measures to reduce emissions, Shell's shareholders disagree.
The firm has just sought & obtained agreement from investors to slow down its measures to mitigate its environmental impact & reduce progress towards its own (already weak) climate targets.
More reason(s) the fossil fuels sector cannot really be central to climate response(s).
"The Trans Mountain Pipeline is open and it's costing me sleep"
"While Alberta Premier Danielle Smith issued an uncharacteristically gracious news release “to thank the federal government for seeing this project through,” P.M. Justin Trudeau was nowhere around to bask in that gratitude. Nor were any Liberal ministers. It’s almost like they’re not proud of what they have done."
The findings from Oil Change International wouldn't come as a surprise to many.
They reveal a stark disconnect between the climate plans of the 8 largest US and European-based international oil & gas producers, and the global goal of limiting warming to 1.5C above pre-industrial levels.
The strategies of US firms Chevron, ConocoPhillips, and ExxonMobil were found to be ‘grossly insufficient’ across all evaluated criteria.
@MorpheusB when the proposed solutions are always decades away, this justifying ‘transition fuels’, it stinks like extending fossil fuels rather than solving the problem. We have technologies now that can help, but no, let’s delay the solution. #auspol#climate#fossilfuels
"The paper places a much higher estimate on economic losses than previous research, calculating a #SocialCostOfCarbon to be $1,056 per ton. This compares to a range set out by the US Environmental Protection Agency (EPA) that estimates the cost to be around $190 per ton.
The cost of transitioning away from #FossilFuels and curbing the impacts of #ClimateChange, while not trivial, pale in comparison to the cost of climate change itself."
'Woodcock’s entries in the Lords’ register of interests show he is paid to act as the chair of the Purpose Business Coalition, an organisation run by the PR and lobbying firm Crowne Associates, which counts the oil company #BP and the arms company #Leonardo among its clients.'
interestingly, Alan Beattie (FT) points out, the headline subsidies quoted as flowing to fossil fuel firms around the world include both explicit & implicit subsidies (calculated by the IMF & World Bank).
I'm not saying all is therefore fine, but the implicit subsidies include future taxes not levied... as well as other regulatory issues (rather than cold hard cash payments).
This makes the figures look less 'fact' & more political rhetorical which is worth knowing!
#Microsoft#FossilFuels#Decarbonization#ClimateChange#AI: "When Microsoft Corp. pledged four years ago to remove more carbon than it emits by the end of the decade, it was one of the most ambitious and comprehensive plans to tackle climate change. Now the software giant's relentless push to be the global leader in artificial intelligence is putting that goal in peril.
The Seattle-based company’s total planet-warming impact is about 30% higher today than it was in 2020, according to the latest sustainability report published Wednesday. That makes getting to below zero by 2030 even harder than it was when it announced its carbon-negative goal.
Now to meet its goals, the software giant will have to make serious progress very quickly in gaining access to green steel and concrete and less carbon-intensive chips, said Brad Smith, president of Microsoft, in an exclusive interview with Bloomberg Green. “In 2020, we unveiled what we called our carbon moonshot. That was before the explosion in artificial intelligence,” he said. “So in many ways the moon is five times as far away as it was in 2020, if you just think of our own forecast for the expansion of AI and its electrical needs.”"
If you like bullies, let us introduce you to @exxonmobil.
"Exxon Mobil’s punitive lawsuit only hints at the lengths that the fossil fuel industry will go to preserve a business model facing an inexorable decline." #climatechange#climate#fossilfuels
@golgaloth given that Labor has reinstated the Methane Led Recovery I would have to say the anti climate action lobbying is definitely working. #fossilfuels#labor#alp
The pandemic babies who were born in 2021 will probably never see a world that resembles the one we’re inhabiting now. For those who think we’ll have established a colony on Mars by then and will be shuttling humans that direction, I say wake the fuck up and take care of the planet you’re already living on. JFC.
In the 1880s, the mark of consumption among elites was replacing gaslights for electric ones. Today it is the replacement of electric ones for useless decorative gas lights that constantly burn. We see these in many wealthy neighborhoods in Chicago.
I really don't know about the mechanics of this system. Nor do I know anything about the people. Just always find such fixtures strange.
"Most of the funding, $621 million, will go toward 36 projects aimed at bolstering the resilience of existing infrastructure through things like improving draining, moving roadways, and lifting up bridges.
An additional $119 million will go toward protecting, strengthening, or removing at-risk coastal infrastructure like highways."
"In one of its biggest steps yet to keep #FossilFuels in the ground, the Biden administration announced Thursday that it will end new coal leasing in the #PowderRiverBasin, which produces nearly half the coal in the United States.
The bureau determined that no future coal leasing should happen in the basin, and it estimated that coal mining in the #Wyoming portion of the region would end by 2041."
Big Oil and its allies are attacking the International Energy Agency for forecasting a relatively imminent peak in fossil-fuel demand and the rapid uptake of #renewables
The fossil fuel industry is shooting the messenger, because the message contains the words "stranded assets".
If the banks hear that message, that industry is DONE.
"By analysing global accounting regulations using data on European banks, our team of researchers identified a structural bias in financial models which are required to assess and report risk.
Alarmingly, they tend to judge carbon-intensive assets as less risky than lower carbon ones."