Efforts to limit the effects of greenhouse gas emissions on the climate while meeting growing energy demand rest largely on key partnerships between the oil and gas industry and emerging climate technology companies. The transition to responsibly sourced gas — natural gas that is produced, gathered, processed, transported and distributed utilizing methods that meet the highest environmental standards and practices — does more than just lower emissions as part of that net-zero goal. RSG helps upstream gas businesses and downstream customers demonstrate their commitment to sustainability measures in ways that resonate with investors, regulators and the general public. In today’s RBN blog, we look at the road to a net-zero world and how Project Canary assessments can help ensure that natural gas remains a part of that journey.
Global efforts to address the most significant impacts of climate change, including global warming, have focused on ways to reduce manmade greenhouse gas (GHG) emissions, with the International Energy Agency and other groups calling for a transition to a net-zero world by 2050. Given that we’ll still live in a world that runs to a large degree on hydrocarbons — which produce emissions of carbon dioxide (CO2), methane and other GHGs — what would it mean to live in a net-zero world? On the most basic level, although some GHGs would still be produced, industrial processes, transportation and power generation would need to be as clean and efficient as possible. The GHG emissions would need to be removed from the atmosphere or captured at the source through carbon capture and sequestration (CCS) or carbon capture, use and sequestration (CCUS). (For more on carbon capture, see our Way Down in the Hole series.)
Because it’s not feasible to live in a zero-emissions world — it would be impractical and enormously expensive to eliminate emissions from all industrial activities — a transition to a net-zero future is the likeliest path forward. But concerns about climate change and global warming are not the only things pushing this conversation forward, with the need for climate-resilient development featured in the Intergovernmental Panel on Climate Change’s (IPCC) latest report, “Climate Change 2022: Impacts, Adaptation and Vulnerability.” There’s a new ethics to investing that’s being driven by a combination of several factors — including pressure from regulators, investors and consumers. That means the time to act is now.
Join Backstage Pass to Read Full Article