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- Nov 2023
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For producers that choose to diversify and are looking to align with the aims of the Paris Agreement, our bottom-up analysis of cash flows in a 1.5 °C scenario suggests that a reasonable ambition is for 50% of capital expenditures to go towards clean energy projects by 2030, on top of the investment needed to reduce scope 1 and 2 emissions.
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for: stats - oil and gas industry - required investments in clean energy
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stats: oil and gas industry - required investments in clean energy
- 50 % of capital expenditure by 2030 and reduction in scope 1 and 2 emissions
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- Wow, is it really possible for the industry to spend 50 % of their budget on clean energy in 7 years? This would be unprecedented, given that greenwashing is all we've ever seen in the past.
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