To avoid catastrophic climate breakdown, we must limit global temperature rises to 1.5C, and the UN’s Intergovernmental Panel on Climate Change warns that the time to act is “now or never” if we are to achieve this. As the biggest single contributor to global warming, the energy sector has a huge role to play, but alarm over energy security following Russia’s invasion of Ukraine threatens to derail an already fragile energy transition. Now, more than ever, support for low carbon energy innovation is urgently needed to roll out clean energy solutions that reduce emissions along with dependence on Russian oil and gas.
By Craig Watson, European Patent Attorney with HGF Ltd.
It’s no secret that new technology is vital to the oil and gas industry – the number of patent applications for downhole technology filed annually at the European Patent Office has increased by 50% since 2009.