John Kerry, U.S. special presidential envoy for climate, attends the portrait unveiling of former Secretary of State Hillary Rodham Clinton at the State Department in Washington, U.S., September 26, 2023. Portal/Ken Cedeno/File Photo Acquire License Rights
ABU DHABI, Oct 31 (Portal) – Companies that produce fossil fuels must face their responsibility to reduce the carbon emissions that are driving climate change, U.S. climate envoy John Kerry said on Tuesday, as countries prepare to do so prepared to debate the future of fossil fuels at this year’s UN climate summit COP28.
The oil and gas industry is expected to be the focus of the COP28 summit from November 30 to December 12 in the United Arab Emirates, a major oil producer. Dozens of countries want to push for the world’s first agreement to phase out CO2-emitting coal, oil and gas.
Kerry, U.S. special envoy for climate change, said it is the responsibility of fossil fuel companies to prove they can be part of global efforts to reduce carbon emissions.
“My message to oil and gas companies is very simple. There is only one reason we are in this crisis and that is largely because of the way we provide our energy,” Kerry told Portal.
“We demand public responsibility. And we look at these companies and feel like they can do so much to help us win this fight.”
The United Arab Emirates’ incoming COP28 president Sultan Al Jaber, who is also head of the country’s state oil company ADNOC, has defended the industry’s inclusion in the event and is calling on oil and gas companies to make carbon reduction pledges there .
Major oil and gas companies have touted investments in carbon removal and carbon capture and storage technologies, as well as some renewable energy and hydrogen, as part of their net-zero emissions plans. Still, some like Shell and BP have pared back commitments in recent months even as they reported record profits.
Daniel Westlén, Sweden’s state secretary for climate, told Portal that while UN climate negotiations are exclusively between governments, they also need to include fossil fuel companies.
“Replacing 80% of the world’s primary energy with something else is like replacing the blood veins and vessels when the patient is ready. Without them it will be difficult,” he said.
“You need a plan to plan ahead. And most likely that plan will have to involve fossil fuel companies in some way – but the end goal is to phase out fossil fuels,” he added.
Kerry said investments by oil and gas companies in new technologies such as direct air capture and carbon capture in storage were welcome, but it was too early to say whether they would have an impact on global greenhouse gas emissions.
“Your investment is crucial, but we don’t know yet whether it’s a fig leaf or not. There are many questions about whether or not they will ever be able to produce on a large scale. This still needs to be tested,” he said.
Jennifer Morgan, Germany’s special envoy for climate protection, said credible plans by oil companies would have to address greenhouse gas emissions from operations as well as their use by consumers. Morgan said companies also need to eliminate methane emissions and increase spending on renewable energy.
“They need to shift their investments because … currently about 5% is going into renewable energy … and it needs to be more than 50%,” she told Portal.
Reporting by Alexander Cornwell, written by Kate Abnett and Valerie Volcovici; Edited by David Gregorio
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