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Paris

Other News

COP 21: Ministers work through night in bid for deal

Ministers from around the world have worked through the night as the talks for a new deal on climate change enter their final days. Efforts are being made to break divisions on key issues in the agreement which aims to avoid dangerous climate change and provide finance for poor countries to deal with the impacts of global warming. A draft of the text for the agreement released on Wednesday contained the potential for ambitious targets on curbing rising global temperatures and cutting emissions over the coming decades, as well as weaker options, and a new text is expected later today.

Other News

COP 21 climate change march cancelled after Paris attacks

A huge march through Paris on the eve of international climate talks in the French capital will not go ahead following Friday’s terror attacks. The organisers of the march, which had been expected to draw as many as several hundred thousand people on Sunday November 29 calling for strong action on climate change, had hoped to go ahead with the demonstration despite the attacks. But in the wake of the killings in Paris, French authorities have told the coalition of campaigners it cannot proceed.

Opinion

Opinion: Paris attacks and commodities, history shows us what to expect

Geopolitical developments often have a major impact on oil prices since they can affect oil supply directly and since the threat of future supply disruptions can also build a risk premium into oil prices. As a notable example, in the early part of 2014, conflicts in Libya and Iraq led to temporary outages in their oil production, keeping world prices high, even as supply elsewhere in the world continued to ramp up. When production from those two countries came back on stream, that was an important trigger for the plunge in oil prices later in the year. Notice how much oil price spiked at the historical times of war.

Other News

London and Madrid terror attacks show French economy could remain resilient

The Paris attacks will impact the French economy in the near term but activity is likely to remain resilient, according to a leading expert. IHS global insight chief European and UK economist Howard Archer has compared the most recent attack in the French capital – which killed 129 people – to previous incidents in both London and Madrid. Archer said experience from those events showed the economic impact is likely to be “limited and temporary”.

Renewables/Energy Transition

CCS experts sign open letter to UN ahead of Paris talks

An open letter by 41 signatories has been sent to the executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC) regarding CCS (Carbon Capture Storage). Scientists and experts from Scotland to China said they had written to reassure the UNFCCC that CCS is “safe, secure and effective”. They said extensive research had shown CO2 storage at selected sites was unlikely to lead to any leakages.

Oil & Gas

Oil bosses to meet in Paris ahead of climate talks

The leaders of eight of the world’s top oil companies are set to meet in Paris next week to show how they will combat climate change. The move is part of an offensive ahead of a UN summit which will be held in December. The meeting will be followed by a press conference where the company bosses are also expected to renew a call for a global carbon pricing mechanism. Total chief executive Patrick Pouyanne said company leaders would present proposals to combat global warming ahead of the talks.