Notwithstanding all the rhetoric, pledges and promises, 27 COPs, as well as genuine progress and notable effort in some areas, the global energy mix has not really changed from an 80:20 fossil fuel to renewables ratio over the last 30 years.
"Looking ahead to 2023, it's pretty clear that what we are looking for is boredom”, says Addleshaw Goddard partner and co-head of oil and gas, Paul Jones, after the turbulence of the past 12 months.
As COP27 draws to a close, the pressure on governments and companies around the world to accelerate the global energy transition away from fossil fuels and into clean energy continues to mount.
Extinction Rebellion has targeted a number of companies it sees as implicated in fossil fuel production, including service companies, financiers and a PR company.
The COP27 climate talks in Egypt, which came close to collapse in the closing stretches, ended with an early-hours deal to create a fund to pay poorer countries for the harm caused by climate change.
India is discussing a plan to keep old power stations running for longer, arguing that they’re needed to meet demand until enough energy storage can be built.
Climate negotiators are on track to reject a proposal for a more sweeping plan to phase down fossil fuels, snuffing efforts by India and key developed nations to target oil and gas as well as coal in an overarching deal at COP27.
Air Products and Mabanaft have set out a plan to build Germany’s first large green ammonia import terminal, at the Port of Hamburg.
Tackling methane emissions should be an easy way to make progress in tackling climate change – and point to how willing the energy industry is to the energy transition.
The Sovereign Fund of Egypt (TSFE) has signed up to explore options for a new 1.1 GW wind project, with ACWA Power, and a green hydrogen plan with AMEA Power.
Egypt has struck a number of agreements with energy companies around sustainability and reducing emissions, including at the Idku liquefaction plant.
Activists at COP27 have accosted Patrick Pouyanné, CEO of TotalEnergies, to demand answers about “bloody money” from the company’s Russian operations.
As COP27 continues apace, the slew of demands for more – or less – hydrocarbon investments is mounting.
A report published by the Net Zero Technology Centre identifies global innovation priorities across traditional hydrocarbon basins, including blue and green hydrogen, offshore wind, oil and gas electrification, carbon capture and storage, and digital transformation technologies to achieve the Paris Agreement emissions targets and create integrated net zero energy systems.
Equinor’s (OSLO: EQNR) outgoing global vice president exploration and production says COP27 feels more welcoming to energy companies than its predecessor.
Dubai’s ENOC Group has signed a memorandum of understanding (MoU) with Japan’s IHI Corp. to establish a green ammonia project.
An activist from the ‘Stop Rosebank’ group confronted Nicola Sturgeon during COP27 on Tuesday.
The UK is poised to join a coalition committed to accelerating the deployment of offshore wind worldwide.
The European Union is proposing a cut back in lengthy planning rules for building renewables projects in the latest push to lower electricity prices and reduce gas use in energy.
BP has signed a memorandum of understanding (MoU) to explore green hydrogen opportunities in Mauritania, where the company is also working on major LNG export plans.
The EU and US put methane on the map at COP26 in Glasgow — declaring the potent greenhouse gas a threat to Paris Agreement temperature goals and insisting emissions of it must be slashed 30% by 2030.
South Africa’s government will utilize 90% of an $8.5 billion climate-finance package that wealthy nations offered it to transition to cleaner energy to bolster its power supply, according to an investment plan released on Friday.
African states must defend the use of fossil fuels at the soon starting COP27, in Egypt, African Energy Chamber’s NJ Ayuk has said.
On Sunday, the global climate summit COP27 will convene in Egypt. Bloomberg Green will cover the conference in depth and we’ve been preparing for it, looking at Egypt’s future under a possible 3C of warming and discussing why every election is now a climate election.
Rishi Sunak has confirmed he will attend the COP27 climate conference in Egypt next week.