Tackling methane emissions, a greenhouse gas 84 times more potent than CO2 in the short term, should be low-hanging fruit for oil and gas producers: something they can do cost-effectively, and with far greater climate impact than investing in renewables, or in further-out.
Benchmark of Big Oil on methane emissions shows significant gap between reality and reporting hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
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Much has been made of the historic rise in valuation of electric vehicle companies like Tesla and BYD, which are disrupting the auto sector, and Reuters has taken note of the recent pull back in some of these stratospheric valuations.
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What may be lying beneath the surface of this still impressive performance from the disruptors is that the old implicit rule for business – the alleged trade off between profitability and the environmental responsibility – is less true today than in the history of the auto sector. In the last decade, success in the auto sector was based less on improving environmental impacts of the products they built (most all the impact is from product use), and more based on the need to satisfy consumers’ insatiable demand to go bigger – supersize me with an SUV (and let’s not focus on the carbon footprint):
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Joe Biden’s ambitious pledge last month to halve U.S. greenhouse gas emissions by 2030, and the EU’s move to raise its 2030 target for cutting emissions from 40% to 55%, appear to be two leaps forward for humankind by pushing for urgent action to turn the tide on disastrous climate change.
ANALYSIS: Strong stick of regulation will be needed to commandeer big business into hitting new climate
The question, however, is whether the politicians who attended Biden’s climate summit will be able to commandeer the companies that produce the vast majority of climate destroying emissions into action to deliver their targets.