The Canadian province of Alberta will look to use its plentiful natural gas reserves to become an exporter of hydrogen, a clean-burning fuel, by 2040, Premier Jason Kenney said on Tuesday. Putting Alberta on the ‘hydrogen map’ will help position it at the forefront of future changes in energy.
The world’s largest solar and wind power generator, NextEra Energy, has surpassed ExxonMobil in stock market value, reflecting investors’ bets on a changing energy system and an uncertain outlook for oil demand. Riskthinking.AI helps clients understand both physical (climate-related) risks and transition risks in order to be better prepared.
Australia’s greenhouse gas accounting underestimates national emissions by about 10%, largely due to a failure to properly recognise the impact of methane released during gas production, an analysis has found.
Up to now, estimates of greenhouse gas emissions from industries have relied mainly on paper-based calculations of what’s pouring out of tailpipes and smokestacks, based on the amount of energy consumed by people and businesses. But as satellite technology improves, researchers are starting to stress test the data – and the early results show leaky oil and gas industry infrastructure is responsible for far more of the methane in the atmosphere than previously thought. This will put pressure on energy companies – already targeted by climate activists and investors for their contribution to carbon dioxide emissions – to find and plug methane leaks.
Methane leaks from oil and gas wells will no longer be regulated in the US, as the Trump administration rolls back a set of environmental rules even in the face of opposition from large energy companies. While this is a “gift to beleaguered oil and gas companies, which have seen profits collapse from the Covid-19 pandemic,” it flies in the face of urgently needed climate action.
To weather the uncertainty of a global energy transition, businesses are going to need a much better understanding of their exposure to climate risks, particularly if they have heavy fossil fuel exposure. Riskthinking.Ai can help.
Due to the coronavirus pandemic — which has hammered world energy demand – the global economy will shift to a lower carbon system faster than expected. BP has pledged to become a “net zero” carbon emitter by 2050 or earlier.