The Canadian Club of Calgary’s Post

BP abandons its target to reduce oil and gas production by 2030 In a significant shift from its previously stated commitment to climate action, BP has reversed course, abandoning its target to reduce oil and gas production by 2030. This decision directly contradicts the company's prior collaboration with shareholder activist group Follow This on climate resolutions. It's hard to believe that in 2020, BP was actively working together with Follow This on a climate resolution, demonstrating a commitment to the energy transition they've now abandoned. BP’s refocus on fossil fuels is a direct result of the decrease in shareholder pressure to invest in clean energy. Big Oil can make or break the Paris Climate Agreement. That’s a decision for shareholders. BP will only change if more shareholders vote for change. Let's push for real climate action! Support Follow This and our mission to change Big Oil from within. Read more: https://lnkd.in/eirvP3g8

TIME TO CHOOSE Western countries talk a green game, but are still expanding oil and gas production, even as the world burns. Revealed: wealthy western countries lead in global oil and gas expansion https://lnkd.in/gK6wHm3y

BP reported an increase in carbon emissions in 2023 due to new projects and higher production levels. The company aims to reduce these emissions significantly by 2030. This article highlights the importance of addressing operational and Scope 3 emissions to combat climate change effectively. It also mentions a rise in methane emissions, emphasizing the need for sustainable practices in the oil and gas industry. Read more to understand BP's initiatives to reduce its environmental impact and contribute to a greener future. #BP #CarbonEmissions https://lnkd.in/gSgG-n3z

UK Net Zero - Department for Energy Security and Net Zero where is the plan for indigenous oil and gas? Very predictable responses from both sides to new oil and gas licences. It’s all assertions - where are the numbers? I think both sides would agree that we have to stop burning unabated oil and gas as quickly as possible. In a way that is fair and just. GOVUK - where is the quantified, oil and gas plan that delivers a just transition? Seems like the can is just being kicked down the road. Let’s max out on tax revenue and hope something turns up. https://lnkd.in/eQSxMRUe

I cannot but feel a touch sad about bp pulling away from its environmental aspirations. When I left bp in 2020, I felt I was leaving a company with a bold new vision and a strong sense of moral purpose. I have always thought, though, that climate change needs a demand-side response; trying to fix climate change by focusing on the supply side just results in higher energy costs, energy poverty and energy insecurity. Hence I felt bp’s push into alternative energies and CCS was a good counterpoint to its aims in reducing oil and gas production. We need to reduce the demand for carbon-intensive oil and gas consumption by providing cheap and reliable alternatives. I hope the oil and gas industry, including bp, remembers to be a constructive part of the response to climate change even as it back-tracks off its reduction targets. For example, continuing to advocate for carbon controls, and investment in alternatives. Climate change is real, it is going to be damaging and it is coming on us fast. We in the extractive energy industry need to be part of that response.

"You’d think that these inconvenient truths would give the Alberta government at least a moment’s pause.... per-barrel emissions from the oil sands have actually increased since 2018. And because Alberta’s oil production is increasingly dominated by oil sands projects, the average emissions intensity of its barrels is actually higher today than it was in 1990. The overall emissions from Alberta’s oil and gas industry have also increased substantially in recent years.... While emissions in most parts of the country have declined since 2005, in Alberta they’re actually up 7.5 per cent." Alberta's Emissions Cap Math Doesn't Add Up writes Max Fawcett for Canada's National Observer: https://lnkd.in/eHy3xRTG #Emissionscap #ABpoli #scrapthecap #CDNpoli #Alberta

With the news that there is evidence the earth’s water cycle is breaking down https://lnkd.in/g5gknpUT and the fact that net zero efforts are not actually reducing emissions (from 15:00 👉 https://lnkd.in/g8UKxrgQ), I think we need new outlook models from the International Energy Agency (IEA), International Institute for Sustainable Development, and others. Please generate how quickly the G20 can wind down the fossil fuel system. We know what we are capable of already👇 and know what is actually needed. Land stewardship laws need to regulated and investment in the shutdown, clean up, and restoration of high priority ecosystems. The only piece we do not have is funding. Oil and gas executives would rather lie, bully, and steal from their own children’s futures then take responsibility. 🙏 prove me wrong 🤝 Canadian Natural Resources Limited (CNRL) Suncor ConocoPhillips Cenovus Energy Shell Imperial Oil MEG Energy Corp. Tourmaline Oil Corp Tamarack Valley Energy Ltd (TVE) Strathcona Resources Ltd. Obsidian Energy Ltd. #TheTimeIsNow #ScrapTheCrap #polluterpay #regulate #abandon #decomission #remediate #recontour #restore #regenerate #cdnpoli #abpoli #uspoli #worldpoli

The MEPC 81 meeting concluded on 22nd March 2024, further clarifying the risk and opportunity both for the international #shipping value chain’s commercial decision making

Exxon Mobil, a fossil fuel giant, discovered over 50 years ago that the burning of fossil fuels would lead to climate change. Despite this knowledge, the company chose to suppress this information, prioritizing corporate profits over the health of the planet. This deliberate deception allowed climate change to accelerate, resulting in devastating consequences worldwide. Now, in a cynical attempt to salvage its reputation, Exxon Mobil is investing heavily in carbon capture projects, a strategy that has been aptly labelled "historical climate washing." These projects, while potentially beneficial, are a far cry from addressing the root cause of the climate crisis: the continued extraction and burning of fossil fuels. By diverting resources towards carbon capture, Exxon Mobil is attempting to deflect blame and avoid the significant changes needed to mitigate the climate crisis. https://lnkd.in/dgy34CaF

🌍 Big News in Environmental Policy! 📅 On December 7, 2023, the Canadian Federal Government unveiled a groundbreaking Cap-and-Trade Framework for the Oil and Gas Sector, aimed at significantly reducing GHG emissions by 2030. 🌱 What You Need to Know: - Scope: Targets 85% of sector emissions including LNG, oil, and natural gas production. - Mechanism: Implements a cap-and-trade system with emission caps and trading allowances. - Emission Caps: Sets a cap of 106 to 112 mega tonnes (MT) for 2030, down from 171 MT in 2019. - Allowance Allocation: Free initial allocation based on emission intensity; auctions for additional allowances. - Compliance Dynamics: Includes decarbonization funding, offset credits, and ITMOs for emission target management. - Implementation Timeline: Framework effective from 2025, with registration and annual reporting starting in 2026. 🔍 The Framework represents a pivotal step in Canada's commitment to environmental sustainability and the global fight against climate change. 🔗 For a detailed overview and insights into how this impacts the oil and gas sector, follow our link. 💬 Share your thoughts and join the conversation on this significant development. #OHSInsider #EnvironmentalPolicy #CapAndTrade #GHGEmissions #OilAndGasSector #Sustainability #CanadianGovernment