Have Oil Producers Finally Come Around on Climate Change?
A few weeks ago, we mentioned a recent survey that showed a high degree of concern about climate change among oil and gas industry insiders. It seems that concern is now turning into action – eight of the world’s biggest oil companies have joined together to express their support for cutting carbon emissions. As this RTCC News article explains, these oil giants are recognizing both the risks and opportunities of climate change, and want to bring solutions to the upcoming summit in Paris this December.
This move is a clear sign that shareholder pressure, divestment campaigns, and reports about the health costs of carbon pollution are having an effect on fossil fuel companies. And it’s a reminder that we should never make assumptions about a particular group’s attitudes towards climate issues. Everyone is worthy of engagement, and we all have something to contribute. In the words of UN climate chief Christiana Figueres, “We need everyone – climate change is so important, so we cannot afford to demonize any country or company.”
By Ed King, contributor to RTCC News
New initiative backed by UK, Chinese and Saudi firms seeks to explore ways they can contribute to emissions challenge.
Eight of the world’s top oil and gas producers have offered an intriguing glimpse into a future of rusting oil rigs and gleaming solar panels.
A vision of old and new energy sources, on what looks like a dried out seabed, dominate the front page of the Oil and Gas Climate Initiative (OGCI) website, a project launched by BG Group, BP, Eni, Pemex, Saudi Aramco, Shell, Sinopec and Total.
They joined forces last week at the Paris business and climate summit to emphasize their qualified support for carbon cuts, and plan to reveal how they can contribute to global efforts to address climate change in a report due out later this year.
The oil giants – responsible for 25 million barrels of oil equivalent a day – a sixth of global hydrocarbon production – say they want to “drive the sector forward” on climate solutions.
Image credit: OGCI