Zürcher Nachrichten - Oil majors' climate visions 'inconsistent' with Paris targets

EUR -
AED 4.308577
AFN 73.899024
ALL 95.423026
AMD 432.388367
ANG 2.099521
AOA 1076.807351
ARS 1624.573896
AUD 1.623721
AWG 2.114319
AZN 1.996886
BAM 1.953897
BBD 2.362409
BDT 144.180176
BGN 1.956671
BHD 0.442629
BIF 3489.65253
BMD 1.172992
BND 1.493152
BOB 8.105105
BRL 5.764203
BSD 1.172962
BTN 112.108279
BWP 15.832646
BYN 3.27942
BYR 22990.651961
BZD 2.359002
CAD 1.608537
CDF 2609.908091
CHF 0.916899
CLF 0.027251
CLP 1072.537512
CNY 7.967079
CNH 7.969299
COP 4442.732353
CRC 535.280891
CUC 1.172992
CUP 31.0843
CVE 110.553998
CZK 24.343115
DJF 208.464412
DKK 7.471604
DOP 69.322749
DZD 155.140001
EGP 62.055638
ERN 17.594887
ETB 184.159552
FJD 2.566214
FKP 0.859307
GBP 0.867838
GEL 3.132343
GGP 0.859307
GHS 13.248227
GIP 0.859307
GMD 86.214416
GNF 10298.87399
GTQ 8.949321
GYD 245.390977
HKD 9.183364
HNL 31.22547
HRK 7.533194
HTG 153.241388
HUF 358.026037
IDR 20548.657635
ILS 3.418041
IMP 0.859307
INR 112.266227
IQD 1536.620106
IRR 1538966.089968
ISK 143.620957
JEP 0.859307
JMD 185.33947
JOD 0.831672
JPY 185.0032
KES 151.492258
KGS 102.578601
KHR 4703.699674
KMF 492.656472
KPW 1055.714604
KRW 1752.709142
KWD 0.361457
KYD 0.977435
KZT 544.042395
LAK 25753.048906
LBP 105470.888064
LKR 378.862584
LRD 214.80428
LSL 19.413213
LTL 3.463542
LVL 0.709531
LYD 7.41912
MAD 10.717047
MDL 20.07419
MGA 4897.243541
MKD 61.645129
MMK 2462.05689
MNT 4200.310344
MOP 9.458047
MRU 46.93151
MUR 54.790792
MVR 18.035513
MWK 2042.179871
MXN 20.242524
MYR 4.614569
MZN 74.965454
NAD 19.412952
NGN 1609.216324
NIO 43.052047
NOK 10.785267
NPR 179.373046
NZD 1.973759
OMR 0.451011
PAB 1.172957
PEN 4.026829
PGK 5.10281
PHP 72.154871
PKR 326.825028
PLN 4.252807
PYG 7160.056269
QAR 4.276145
RON 5.203626
RSD 117.389502
RUB 86.598394
RWF 1714.914957
SAR 4.403314
SBD 9.417967
SCR 16.301448
SDG 704.379728
SEK 10.912994
SGD 1.492973
SHP 0.875757
SLE 28.884915
SLL 24597.06062
SOS 670.369152
SRD 43.699245
STD 24278.57539
STN 24.896765
SVC 10.263003
SYP 129.650179
SZL 19.4253
THB 38.013421
TJS 10.966918
TMT 4.105474
TND 3.369128
TOP 2.824285
TRY 53.253152
TTD 7.96028
TWD 37.023741
TZS 3040.985921
UAH 51.552505
UGX 4408.705701
USD 1.172992
UYU 46.644566
UZS 14251.858209
VES 591.520807
VND 30895.448061
VUV 138.792513
WST 3.177983
XAF 655.318687
XAG 0.013806
XAU 0.000251
XCD 3.170071
XCG 2.11395
XDR 0.813306
XOF 652.769344
XPF 119.331742
YER 279.934391
ZAR 19.415312
ZMK 10558.34087
ZMW 22.080493
ZWL 377.703089
  • RBGPF

    -2.6100

    61

    -4.28%

  • CMSC

    -0.0100

    23.11

    -0.04%

  • AZN

    2.6800

    184.54

    +1.45%

  • GSK

    1.0900

    50.9

    +2.14%

  • RIO

    1.6000

    109.5

    +1.46%

  • BP

    0.1800

    44.4

    +0.41%

  • NGG

    0.0800

    87.24

    +0.09%

  • RELX

    -0.5000

    32.77

    -1.53%

  • BCE

    0.1900

    24.47

    +0.78%

  • BTI

    3.2000

    63.64

    +5.03%

  • RYCEF

    -0.7100

    16.08

    -4.42%

  • CMSD

    -0.0100

    23.6

    -0.04%

  • JRI

    0.0100

    13.14

    +0.08%

  • BCC

    -1.2700

    67.93

    -1.87%

  • VOD

    -1.2250

    15.095

    -8.12%

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."

D.Smith--NZN