The Prague Post - Oil majors' climate visions 'inconsistent' with Paris targets

EUR -
AED 4.17633
AFN 75.629335
ALL 93.552771
AMD 417.030966
AOA 1042.80361
ARS 1704.08887
AUD 1.626138
AWG 2.046943
AZN 1.935917
BAM 1.952025
BBD 2.2907
BDT 140.39847
BHD 0.428569
BIF 3397.314667
BMD 1.137191
BND 1.46722
BOB 12.800638
BRL 5.823099
BSD 1.137315
BTN 109.025459
BWP 15.615418
BYN 3.262719
BYR 22288.937268
BZD 2.287396
CAD 1.604786
CDF 2570.050757
CHF 0.931075
CLF 0.027296
CLP 1074.258612
CNY 7.701172
CNH 7.693897
COP 3662.504526
CRC 517.601237
CUC 1.137191
CUP 30.135553
CVE 110.052159
CZK 24.162115
DJF 202.53631
DKK 7.474828
DOP 66.173475
DZD 151.706865
EGP 57.677624
ERN 17.05786
ETB 183.576015
FJD 2.535028
FKP 0.853619
GBP 0.854712
GEL 2.985181
GGP 0.853619
GHS 13.238804
GIP 0.853619
GMD 84.151858
GNF 9978.701225
GTQ 8.678178
GYD 237.859393
HKD 8.917946
HNL 30.465749
HRK 7.534799
HTG 148.67573
HUF 360.408129
IDR 20546.192556
ILS 3.475028
IMP 0.853619
INR 109.069721
IQD 1489.951194
IRR 1563637.181069
ISK 142.694445
JEP 0.853619
JMD 179.932012
JOD 0.806281
JPY 186.172908
KES 147.378604
KGS 99.447734
KHR 4594.296448
KMF 493.54069
KRW 1670.193171
KWD 0.352995
KYD 0.947804
KZT 540.44241
LAK 25779.595737
LBP 101850.655884
LKR 382.440362
LRD 205.8564
LSL 18.996477
LTL 3.357829
LVL 0.687875
LYD 7.285909
MAD 10.647109
MDL 19.989132
MGA 4890.584631
MKD 61.411231
MMK 2387.57629
MNT 4084.244985
MOP 9.186735
MRU 45.402192
MUR 53.834955
MVR 17.569167
MWK 1972.163882
MXN 19.853774
MYR 4.645991
MZN 72.664945
NAD 18.997311
NGN 1550.502517
NIO 41.849064
NOK 10.993448
NPR 174.433646
NZD 1.966743
OMR 0.437251
PAB 1.13732
PEN 3.864626
PGK 5.092152
PHP 70.201626
PKR 315.920611
PLN 4.321239
PYG 6877.698554
QAR 4.146081
RON 5.233298
RSD 117.409274
RUB 88.729742
RWF 1674.228299
SAR 4.261836
SBD 9.189757
SCR 16.796815
SDG 682.886009
SEK 11.06594
SGD 1.468358
SLE 27.548438
SOS 649.943012
SRD 42.907318
STD 23537.551034
STN 24.45303
SVC 9.951753
SZL 18.994182
THB 38.255662
TJS 10.497912
TMT 3.980167
TND 3.369483
TRY 53.847135
TTD 7.724129
TWD 36.761948
TZS 2998.206634
UAH 51.078614
UGX 4270.796627
USD 1.137191
UYU 45.671671
UZS 13619.659623
VES 843.00104
VND 29925.172664
VUV 135.426139
WST 3.134462
XAF 654.716688
XAG 0.019387
XAU 0.000279
XCD 3.073315
XCG 2.049736
XDR 0.813579
XOF 654.69083
XPF 119.331742
YER 271.276853
ZAR 19.033263
ZMK 10236.078763
ZMW 21.251554
ZWL 366.174934
  • RYCEF

    0.8000

    18.87

    +4.24%

  • RBGPF

    -0.7300

    66

    -1.11%

  • CMSC

    0.0350

    21.76

    +0.16%

  • GSK

    0.6800

    52.03

    +1.31%

  • RIO

    0.4700

    91.69

    +0.51%

  • BCE

    0.0560

    21.356

    +0.26%

  • NGG

    -0.8200

    81.48

    -1.01%

  • RELX

    1.5200

    35.93

    +4.23%

  • AZN

    0.6150

    169.875

    +0.36%

  • CMSD

    0.0050

    21.985

    +0.02%

  • BCC

    0.5350

    78.375

    +0.68%

  • JRI

    -0.0950

    12.965

    -0.73%

  • BP

    -1.1400

    42.68

    -2.67%

  • VOD

    0.7100

    15.86

    +4.48%

  • BTI

    -0.2300

    60.73

    -0.38%

Oil majors' climate visions 'inconsistent' with Paris targets
Oil majors' climate visions 'inconsistent' with Paris targets / Photo: Karen Ducey - GETTY IMAGES NORTH AMERICA/AFP/File

Oil majors' climate visions 'inconsistent' with Paris targets

Global decarbonisation scenarios envisioned by oil and gas majors are incompatible with the Paris climate deal temperature goals aimed at averting devastating heating, according to research published Tuesday.

Text size:

The landmark 2015 accord saw nations commit to limit planetary heating to "well below" two degrees Celsius (3.6 Farenheit) above pre-industrial levels and to work towards a safer 1.5-C warming cap.

Writing in the journal Nature Communications, an international team of experts analysed six emissions scenarios from three European energy giants -- Equinor, BP and Shell -- as well as those produced by the International Energy Agency.

They then compared the analysed pathways to scenarios outlined in a special report from the Intergovernmental Panel on Climate Change on 1.5C of warming.

The team used these to evaluate peak and end-of-century temperatures under each scenario, noting that average global temperatures may decline by 2100 in some scenarios after peaking.

They also assessed the underlying energy system changes that drive emissions and could lead to a given scenario meeting -- or failing to meet -- the Paris temperature goals.

"Most of the scenarios we evaluated would be classified as inconsistent with the Paris Agreement as they fail to limit warming to 'well below 2C', let alone 1.5C, and would exceed the 1.5C warming limit by a significant margin," said Robert Brecha of the Climate Analytics think tank and co-lead author of the study.

"Energy system transformation is critical to reaching the Paris Agreement warming limit, and decision makers need sound and transparent scientific assessments. This paper adds to that transparency."

- 'Catastrophic impacts' -

The analysis found that Shell's Sky scenario would lead to warming of 1.81C by 2069 -- a far cry from 1.5C.

A Shell spokeswoman told AFP that the Sky pathway was just one of several envisaged by the company.

The team responsible for modelling scenarios "makes assessments based on plausible assumptions and quantifications, which are not intended to be predictions of likely future events or outcomes, let alone our energy transition plan", she added.

Equinor's Rebalance scenario would see warming peak at 1.73C above pre-industrial levels by 2060, according to the study.

BP's Rapid scenario would see peak warming of 1.73C by 2058, while its Net Zero scenario would see median warming peak at 1.65C, the analysis found.

Equinor declined to comment, while BP did not respond to a comment request.

Only the IEA's Net Zero 2050 pathway is fully aligned with the Paris agreement's 1.5C goal, the authors concluded.

"Fossil fuel companies claim that we can continue to burn oil and gas while keeping to the 1.5C warming limit, and they cite their own scenarios as justification," said Bill Hare, CEO and Senior Scientist at Climate Analytics.

"But our research shows that their pathways would bust the Paris Agreement. Even temporarily exceeding the 1.5C warming would lead to catastrophic impacts and severely weaken our ability to adapt to climate change."

P.Svatek--TPP