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

EUR -
AED 4.304901
AFN 72.676735
ALL 95.387569
AMD 434.68209
ANG 2.0981
AOA 1076.078103
ARS 1660.383579
AUD 1.630567
AWG 2.112888
AZN 1.990027
BAM 1.953472
BBD 2.363015
BDT 144.338026
BGN 1.955346
BHD 0.442316
BIF 3483.77353
BMD 1.172198
BND 1.493778
BOB 8.10734
BRL 5.847046
BSD 1.173192
BTN 110.448817
BWP 15.796381
BYN 3.294916
BYR 22975.087883
BZD 2.362016
CAD 1.596499
CDF 2725.361441
CHF 0.920897
CLF 0.026644
CLP 1048.651529
CNY 7.998085
CNH 8.002809
COP 4229.12758
CRC 533.083039
CUC 1.172198
CUP 31.063257
CVE 110.59703
CZK 24.353183
DJF 208.323134
DKK 7.472175
DOP 69.423424
DZD 155.241317
EGP 61.594684
ERN 17.582975
ETB 183.195398
FJD 2.57743
FKP 0.868444
GBP 0.865874
GEL 3.141302
GGP 0.868444
GHS 13.022886
GIP 0.868444
GMD 85.570202
GNF 10286.040401
GTQ 8.969313
GYD 245.457545
HKD 9.186677
HNL 31.18078
HRK 7.534773
HTG 153.612218
HUF 364.260673
IDR 20186.896861
ILS 3.487818
IMP 0.868444
INR 110.349992
IQD 1536.981845
IRR 1541440.845673
ISK 143.40701
JEP 0.868444
JMD 185.215641
JOD 0.831088
JPY 186.862481
KES 151.389553
KGS 102.48612
KHR 4699.931445
KMF 492.323375
KPW 1054.978519
KRW 1728.746575
KWD 0.360709
KYD 0.977743
KZT 537.514154
LAK 25709.696674
LBP 105063.864056
LKR 373.388305
LRD 215.286248
LSL 19.33541
LTL 3.461197
LVL 0.709051
LYD 7.44207
MAD 10.844595
MDL 20.308976
MGA 4876.231718
MKD 61.634651
MMK 2461.526297
MNT 4192.356564
MOP 9.470816
MRU 46.84878
MUR 54.753646
MVR 18.110052
MWK 2034.436776
MXN 20.381188
MYR 4.633111
MZN 74.915445
NAD 19.335327
NGN 1594.24821
NIO 43.18021
NOK 10.895889
NPR 176.721472
NZD 1.982393
OMR 0.450714
PAB 1.173202
PEN 4.091026
PGK 5.095125
PHP 71.26263
PKR 327.01196
PLN 4.248774
PYG 7391.256598
QAR 4.28869
RON 5.088985
RSD 117.388332
RUB 87.767998
RWF 1719.402723
SAR 4.396775
SBD 9.430696
SCR 16.330719
SDG 703.918334
SEK 10.813079
SGD 1.493797
SHP 0.875164
SLE 28.865349
SLL 24580.409045
SOS 670.521115
SRD 43.799219
STD 24262.139422
STN 24.471782
SVC 10.265856
SYP 129.557202
SZL 19.319229
THB 37.965148
TJS 11.019571
TMT 4.108555
TND 3.413233
TOP 2.822373
TRY 52.774125
TTD 7.966576
TWD 36.880285
TZS 3044.78379
UAH 51.742492
UGX 4364.799475
USD 1.172198
UYU 46.664401
UZS 14165.122688
VES 566.364823
VND 30897.976608
VUV 138.541593
WST 3.198351
XAF 655.195917
XAG 0.015565
XAU 0.00025
XCD 3.167925
XCG 2.114499
XDR 0.814853
XOF 655.170795
XPF 119.331742
YER 279.744858
ZAR 19.403792
ZMK 10551.19272
ZMW 22.203829
ZWL 377.447394
  • RBGPF

    0.0000

    64.94

    0%

  • CMSC

    -0.0900

    22.86

    -0.39%

  • RYCEF

    0.0500

    15.4

    +0.32%

  • BCE

    -0.3200

    23.56

    -1.36%

  • GSK

    -0.2200

    54.22

    -0.41%

  • AZN

    -2.2400

    187.51

    -1.19%

  • CMSD

    -0.0600

    23.26

    -0.26%

  • RELX

    -0.1400

    36.39

    -0.38%

  • RIO

    0.3400

    99.95

    +0.34%

  • NGG

    -0.1900

    87.23

    -0.22%

  • BCC

    -0.2900

    83.86

    -0.35%

  • JRI

    -0.0600

    12.83

    -0.47%

  • BTI

    -0.7700

    57.32

    -1.34%

  • BP

    -0.2800

    45.97

    -0.61%

  • VOD

    -0.1200

    15.51

    -0.77%

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