Remove 2020 Remove Paris Agreement Remove Stranded Assets
article thumbnail

BP hits the brakes on transition away from fossil fuels

Corporate Knights

When Bernard Looney became CEO of BP in 2020, he promised to reinvent the British oil major as a “leaner, faster-moving and lower-carbon company.” Last week, BP said it will cut its Scope 3 emissions by only 20% to 30% by the end of the decade – a significant reversal from its original 35% to 40% target announced in 2020.

Net Zero 338
article thumbnail

How to Re-establish the UK’s Lead on Climate Change

Chris Hall

In 2020, her successor Boris Johnson launched a 10-point plan for a Green Industrial Revolution. Back then, I wouldn’t have believed that we would come so far in international collaboration on climate change, such as the Paris Agreement,” he said. It’ll be a mess.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The biggest carbon losers

Corporate Knights

Yet the pace and scale of their reductions is in the realm of what every company and country must do by 2030 to keep the faith of the Paris Agreement. But not all GHG reductions are equal. dollars) through 2030. Top Company Profile. Making the cut. BY Naomi Buck. Read article.

article thumbnail

At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

In 2020, a blistering analysis showed Canada leading the G20 countries in per capita public financing to oil and gas. That work was meant to conclude by 2020. billion in 2020/21 and another $1.5 Those guidelines are due to be released in 2024. billion for the first nine months of 2021/22.

article thumbnail

Beware the Green Swan

Chris Hall

Almost seven years since the Paris Agreement was signed at COP21, any number of initiatives have been launched with the aim of reducing greenhouse gas (GHG) emissions and limiting global warming to 1.5°C. C – putting the world on track to exceed 2°C by 2050 without significant action by policymakers and corporates.

article thumbnail

Shell Sets 2030 Goal to Reduce Emissions from Customers’ Use of Gasoline and Diesel

ESG Today

In 2020, Shell announced a commitment to achieve net zero in its operations by 2050, and in 2021, the company launched its “Powering Progress” strategy , detailing how it will achieve its target to be a net-zero energy business by 2050 across Scope 1, 2 and 3 emissions, with initiatives including investing in renewable and clean energy solutions.

Net Zero 105
article thumbnail

Carbon Metrics Key to Investors’ Net Zero Path

Chris Hall

Choosing the right method to measure portfolio emissions is crucial to investors’ alignment with the Paris Agreement, and should reflect their strategy. Reasons are manifold but include better risk management, earlier identification of stranded assets, and the realisation that Paris Agreement goals are in jeopardy.