Thẻ: fossil fuel

COP28 Ends With Deal on Transition Away From Fossil Fuels

~ Đào Thu Hằng ~ Bình luận về bài viết này

bloomberg.com By Jennifer A Dlouhy, Jess Shankleman, and Laura Millan Updated on 

  • First time fossil fuels have made it to a global climate deal
  • Steps needed to turn agreement into tangible actions: Al Jaber
Standing ovation after COP28 President Sultan Al Jaber brokered an agreement to a commitment to transition away from fossil fuels.
Standing ovation after COP28 President Sultan Al Jaber brokered an agreement to a commitment to transition away from fossil fuels.Photographer: Nayla Razzouk/Bloomberg

The COP28 climate talks in Dubai ended in a deal that saw a commitment to transition away from all fossil fuels for the first time.

The president of this year’s UN-sponsored summit, the UAE’s Sultan Al Jaber, brokered an agreement that was strong enough for the US and European Union on the need to dramatically curb fossil fuel use while keeping Saudi Arabia and other oil producers on board.

The agreement calls for countries to quickly shift energy systems away from fossil fuels in a just and orderly fashion, qualifications that helped convince the skeptics. Under the deal, countries also are called to contribute to a global transition effort — rather than being outright compelled to make that shift on their own.

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A moment of truth for the oil and gas industry

~ Đào Thu Hằng ~ Bình luận về bài viết này

Climate change and clean energy confront oil and gas producers with profound choices

Full report here

Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate crisis fuelled in large part by their core products, according to our major new special report.

The Oil and Gas Industry in Net Zero Transitions finds that the oil and gas sector – which provides more than half of global energy supply and employs nearly 12 million workers worldwide – has been a marginal force at best in transitioning to an energy system with net zero emissions, accounting for just 1% of clean energy investment globally.

The report shows how the industry can take a more responsible approach and contribute positively to the new energy economy, highlighting that the UN’s COP28 climate summit in Dubai is “a moment of truth” for the oil and gas sector.To start, all oil and gas companies should commit to tackling emissions from their own operations, according to the report. These emissions need to decline by 60% by 2030 to align with the Paris Agreement goal of limiting global warming to 1.5 °C. Companies also need to dramatically change how they allocate their financial resources. In 2022, clean energy investments accounted for a mere 2.5% of the industry’s total capital spending. The report finds that producers looking to align with the aims of the Paris Agreement would need to put 50% of capital expenditures towards clean energy projects by 2030.What’s more, companies must abandon the notion that they can continue with business as usual simply by ramping up the deployment of carbon capture technologies.

The report finds that if oil and gas consumption were to evolve as projected under today’s policy settings, limiting warming to 1.5 °C would require an entirely inconceivable 32 billion tonnes of carbon capture by 2050, with annual investment rising from $4 billion last year to $3.5 trillion.Opportunities lie ahead despite these challenges, however. Nearly a third of the energy consumed in 2050 in a decarbonised energy system comes from technologies that could benefit from the oil and gas industry’s skills and resources, including hydrogen, offshore wind and liquid biofuels.

After a Decade of Fossil Fuel Investing, Can China Fulfill Its Promise of a “Green” Belt and Road Initiative?

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wri.org October 24, 2023 By Lihuan Zhou and Ziyi Ma Cover Image by: xiaoke chen/iStock

A decade ago, China launched the Belt and Road Initiative (BRI), an ambitious effort to finance infrastructure around the world. Since then, Chinese investments made through the BRI have become an integral part of the global infrastructure landscape — particularly in developing countries — with estimates of $1 trillion or more invested across 152 countries.

Unfortunately, the first 10 years of the BRI were dominated by fossil fuel investment, with $52 billion invested in coal power alone according to the China Overseas Finance Inventory.

But the next decade could look very different: At the 2021 UN General Assembly, China announced it would cease building new coal plants abroad and instead step up investment in renewable energy, a commitment reiterated by President Xi Jinping at the latest BRI summit in October 2023.

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One Step Forward, Two Steps Back: Fossil fuel subsidies and reform on the rise

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IISD

May 23, 2019 | Laura Merrill , Nina Quintas
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Fossil fuels

During the past decade, there has been widespread agreement about the benefits of reforming subsidies to fossil fuels, as endorsed by international commitments and discussions within international forums. Encouragingly, between 2012 and 2016, fossil fuel subsidies (FFS) to consumers almost halved, from USD 504 billion to USD 260 billion. This reduction was due to a combination of reform efforts alongside a decrease in international prices for crude oil, which provided a window of opportunity for action and allowed governments to implement long-awaited reform plans. Tiếp tục đọc “One Step Forward, Two Steps Back: Fossil fuel subsidies and reform on the rise” →

Climate groups threaten lawsuit to force Shell to ditch oil

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By Ivana Kottasová, CNN Business

Updated 3:32 AM ET, Tue February 12, 2019

Black gold and a bleak future

~ Trần Đình Hoành ~ Bình luận về bài viết này
Last update 00:00 | 22/05/2017

VietNamNet Bridge – Viet Nam has 20 thermal power plants now and plans to have more than double that by 2050.

National electricity development plan, thermal power plants, nuclear power, Vietnam economy, Vietnamnet bridge, English news about Vietnam, Vietnam news, news about Vietnam, English news, Vietnamnet news, latest news on Vietnam, Vietnam

Off the cuff, this makes sense. The nation is growing and needs more energy than ever.

However, if we look beyond mere numbers and visualise the social and environmental impacts of 51 coal-powered plants in the country, the rosy picture is blackened considerably, literally and otherwise.

A study published earlier this year by a group of researchers from Havard University and Greenpeace, an international non-governmental environmental organisation based in Amsterdam, cautions that by 2030, Viet Nam and Indonesia will be among the nations worst affected by coal pollution. Tiếp tục đọc “Black gold and a bleak future” →

Carbon capture analyst: ‘Coal should stay in the ground’

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Date:December 2, 2015

Source:University of Michigan

Summary:Serious flaws have been found in a decade’s worth of studies about the best way to reduce greenhouse gas emissions and stabilize the climate, report experts in a new article.

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Serious flaws have been found in a decade’s worth of studies about the best way to reduce greenhouse gas emissions and stabilize the climate.

sciencedaily – The findings, from the University of Michigan, are released as world leaders at COP21 attempt to negotiate the globe’s first internationally binding climate agreement.

The U-M researchers have found that most economic analysis of carbon capture and storage, or CCS, technology for coal-fired power plants severely underestimates the technique’s costs and overestimates its energy efficiency. CCS involves sucking carbon out of coal-fired power plants’ flue gases, compressing it and then injecting it deep underground.

The new analysis puts the cost of reducing carbon emissions with CCS-equipped coal plants higher than any previous study — and most importantly, higher than wind and comparable to solar power. It’s the first study to confront the so-called ‘energy loop’ inherent in the CCS process. Tiếp tục đọc “Carbon capture analyst: ‘Coal should stay in the ground’” →

China Burns Much More Coal Than Reported, Complicating Climate Talks

~ Đào Thu Hằng ~ Bình luận về bài viết này

By NOV. 3, 2015

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nytimes – BEIJING — China, the world’s leading emitter of greenhouse gases from coal, has been burning up to 17 percent more coal a year than the government previously disclosed, according to newly released data. The finding could complicate the already difficult efforts to limit global warming.

Even for a country of China’s size, the scale of the correction is immense. The sharp upward revision in official figures means that China has released much more carbon dioxide — almost a billion more tons a year according to initial calculations — than previously estimated.

The increase alone is greater than the whole German economy emits annually from fossil fuels.

Officials from around the world will have to come to grips with the new figures when they gather in Paris this month to negotiate an international framework for curtailing greenhouse-gas pollution. The data also pose a challenge for scientists who are trying to reduce China’s smog, which often bathes whole regions in acrid, unhealthy haze.

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Implications of Sustained Low Oil Prices

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What the VW Scandal Means for Clean Diesel

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The revelations about Volkswagen’s diesel emissions hurt not only the German carmaker, but the diesel industry overall.

The cars in question include the Passat, Jetta, Beetle, Golf, and Audi A3.

MITtechnologyreview – When Volkswagen debuted the so-called “clean diesel” Jetta TDI sedan and wagon in 2009, it was regarded as something of a breakthrough. The company claimed its new diesel technology would reduce emissions—most notably soot and nitrogen oxides (NOx)—without disrupting the car’s exemplary efficiency or performance.

We now know that unsuspecting owners of some 500,000 VW diesel cars in the United States—and as many as 11 million worldwide—were all the while subjecting themselves and others on the road to extraordinarily high levels of the emissions that cause smog. The company’s CEO apologized after the U.S. Environmental Protection Agency revealed that VW used technology to produce overly forgiving results during smog tests that did not match emissions on the road. Tiếp tục đọc “What the VW Scandal Means for Clean Diesel” →