Oil and gas giant Shell has announced the agreement of a new $10 billion revolving credit facility to help progress the firm towards its net carbon footprint.
The following figure is from the Government produced ‘UK greenhouse gas (GHG) emissions national statistics 1990 – 2017’. The bar chart shows the main sectors contributing to GHG emissions.
Creating the "world's first net zero carbon industrial cluster" could help protect thousands of jobs and make a major impact to cutting emissions, its backers said.
If necessity is the mother of invention, the Committee on Climate Change’s “Net Zero – The UK’s contribution to stopping global warming” report should spur a jump-start for the carbon capture, usage and storage (CCUS) industry in the UK.
The Oil & Gas Technology Centre is planning to set up a Net Zero Solution Centre with a view to making the UK Continental Shelf the first net zero oil & gas basin globally.
In June this year, the UK became the world’s first major economy to commit to a target of net zero emissions by 2050.
European Union leaders plan to underscore the importance of the fight against climate change when they meet next week, though their words will stop short of a mandate to move toward zeroing out fossil fuel emissions.
The UK is to set a legally binding target to end its contribution to climate change by 2050, Prime Minister Theresa May has announced.