WHILE FAMILY AND FRIENDS of the 569 British Columbians who died in June as a direct result of runaway global heating were still grieving, the provincial government was quietly approving the initial project plan for another huge fossil fuel facility.
Comments from a recent energy industry conference reveal major financiers of fossil fuels view environmental and social investing concerns as a trend to “inoculate” against but not a long-term threat to the industry.
“I kind of remind people, I personally think oil is a renewable, it just takes a little bit longer,” said Mari Salazar, senior vice president and manager of Energy Financial Services for BOK Financial, an Oklahoma-based bank that caters to the oil and gas industry.
Several proposed LNG projects in Canada promise carbon neutrality for their gas exports. But the claims lack detail and appear mostly designed to defang opposition to the gas rush.
Under growing pressure to rein in greenhouse gas emissions, developers of liquefied natural gas (LNG) are turning to questionable claims about “carbon neutrality,” “net-zero,” or “green LNG,” in order to pass muster with governments, investors, and society, who are becoming increasingly anxious about the climate crisis.
"Blue hydrogen has large climatic consequences. We see no way that blue hydrogen can be considered 'green,'" says the report.
While celebrated as a climate victory by the Biden administration, the large infrastructure bill passed in the U.S. Senate this week includes billions of dollars of funding toward "blue hydrogen," which new research published Thursday finds is more polluting than coal.
Hokkaido facility to churn out enough clean fuel for 10,000 vehicles
TOKYO -- Japan's largest hydrogen plant powered by offshore wind energy is set to open on the northern island of Hokkaido as part of a national effort to slash carbon dioxide emissions.
Scheduled to begin operation as early as the year ending March 2024, the plant will produce up to roughly 550 tons of hydrogen a year -- enough to fuel more than 10,000 hydrogen vehicles, according to plans.
Paris Agreement climate targets could soon be out of reach without immediate and massive greenhouse gas emission reductions, says the Intergovernmental Panel on Climate Change (IPCC) in a landmark report published Monday.
