The Japan Times - Oil majors' climate visions 'inconsistent' with Paris targets

EUR -
AED 4.007764
AFN 78.810703
ALL 99.792893
AMD 431.824937
ANG 1.965307
AOA 999.003634
ARS 1162.664716
AUD 1.733903
AWG 1.966914
AZN 1.85405
BAM 1.965535
BBD 2.201624
BDT 132.496241
BGN 1.960247
BHD 0.411332
BIF 3230.615734
BMD 1.091215
BND 1.451596
BOB 7.551297
BRL 6.375534
BSD 1.090486
BTN 95.289905
BWP 14.897444
BYN 3.568544
BYR 21387.807771
BZD 2.190368
CAD 1.570744
CDF 3137.242516
CHF 0.961644
CLF 0.026658
CLP 1022.992091
CNY 7.922767
CNH 7.895614
COP 4563.907199
CRC 549.624757
CUC 1.091215
CUP 28.917189
CVE 110.81232
CZK 24.96807
DJF 194.179975
DKK 7.458778
DOP 68.26844
DZD 145.31382
EGP 55.211538
ERN 16.36822
ETB 139.962982
FJD 2.510338
FKP 0.845648
GBP 0.843896
GEL 3.028162
GGP 0.845648
GHS 16.919966
GIP 0.845648
GMD 78.670342
GNF 9433.964791
GTQ 8.415861
GYD 228.085166
HKD 8.478541
HNL 27.918918
HRK 7.542369
HTG 143.872988
HUF 402.715741
IDR 17865.608368
ILS 3.973085
IMP 0.845648
INR 95.25364
IQD 1430.336437
IRR 45926.55222
ISK 147.748112
JEP 0.845648
JMD 171.114207
JOD 0.773692
JPY 160.990213
KES 140.628498
KGS 95.706676
KHR 4376.127649
KMF 495.386721
KPW 982.09726
KRW 1589.985534
KWD 0.336311
KYD 0.901172
KZT 535.830315
LAK 23625.440969
LBP 98439.387301
LKR 322.607351
LRD 218.02765
LSL 19.962086
LTL 3.222073
LVL 0.660065
LYD 5.259687
MAD 10.623954
MDL 19.921473
MGA 5110.277157
MKD 61.906116
MMK 2290.269431
MNT 3787.68541
MOP 8.73102
MRU 42.749622
MUR 49.286974
MVR 16.855805
MWK 1894.052733
MXN 22.170613
MYR 4.824298
MZN 69.716409
NAD 19.962086
NGN 1664.390153
NIO 40.156012
NOK 11.631312
NPR 152.477264
NZD 1.911745
OMR 0.420135
PAB 1.091215
PEN 3.993482
PGK 4.413218
PHP 62.698217
PKR 305.525668
PLN 4.230396
PYG 8643.318269
QAR 3.971789
RON 5.011048
RSD 117.909155
RUB 95.678145
RWF 1538.348252
SAR 4.092436
SBD 9.300266
SCR 16.051822
SDG 655.841954
SEK 10.972087
SGD 1.453818
SHP 0.857523
SLE 24.933673
SLL 22882.232431
SOS 623.32998
SRD 39.125628
STD 22585.940768
SVC 9.547974
SYP 14187.57904
SZL 19.962086
THB 36.954874
TJS 11.910177
TMT 3.818418
TND 3.372185
TOP 2.628137
TRY 39.917689
TTD 7.412142
TWD 35.904314
TZS 2878.477454
UAH 45.118212
UGX 4004.108783
USD 1.091215
UYU 46.294574
UZS 14142.789624
VES 70.692951
VND 27798.416449
VUV 134.724032
WST 3.075042
XAF 660.515628
XAG 0.033549
XAU 0.000375
XCD 2.953496
XDR 0.820428
XOF 660.515628
XPF 119.331742
YER 269.354899
ZAR 19.917721
ZMK 9822.23929
ZMW 31.146
ZWL 351.370682
  • RBGPF

    3.3400

    69.77

    +4.79%

  • CMSC

    0.0350

    23.015

    +0.15%

  • RELX

    0.0900

    47.41

    +0.19%

  • SCS

    -0.1750

    11.325

    -1.55%

  • NGG

    0.1000

    62.24

    +0.16%

  • RIO

    -0.4000

    61.81

    -0.65%

  • AZN

    -1.1800

    74.81

    -1.58%

  • BTI

    0.1750

    40.735

    +0.43%

  • GSK

    -0.6900

    39.63

    -1.74%

  • CMSD

    -0.1150

    23.1

    -0.5%

  • BCC

    0.0500

    99.22

    +0.05%

  • RYCEF

    0.1500

    9.65

    +1.55%

  • JRI

    0.0100

    12.9

    +0.08%

  • BCE

    -0.3900

    24.79

    -1.57%

  • VOD

    -0.2040

    9.246

    -2.21%

  • BP

    -0.1800

    32.03

    -0.56%

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."

M.Fujitav--JT