(Bloomberg) -- Two days after the European Union declared it will push for a global phase-out of most fossil fuels well before 2050, Shell Plc signed a 27...
-- Two days after the European Union declared it will push for a global phase-out of most fossil fuels well before 2050, Shell Plc signed a 27-year agreement to buy Qatari liquefied natural gas for the Netherlands.Intel, Siemens Pull Out of Web Summit After Israel RemarksIt’s not the first multi-decade deal to tie the bloc to dirty fuels beyond its targeted deadline — just last week France’s TotalEnergies SE signed a similar contract.
But high borrowing costs and uncertainty about the commercial viability of some technologies have stalled investments and raised questions about the reachability of Europe’s climate goals. The EU has a binding aim to cut greenhouse gases by at least 55% by 2030 from 1990 levels, and produce no net emissions by the middle of the century.
“Private investments into fossil gas deliveries beyond mid-century are at risk of becoming stranded,” said Matthias Buck, Director Europe at Agora Energiewende. “Particularly, as there are many questions around the future availability and costs of carbon capture and storage.” EU policymakers acknowledge that some energy-intensive industries will need fossil fuels for longer and will have to rely on emissions-removal technologies, but stress those should not be used to delay climate action in sectors where effective alternatives are available.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gas Deals Beyond 2050 Show Reality Gap on Europe Climate GoalsTwo days after the European Union declared it will push for a global phase-out of most fossil fuels well before 2050, Shell Plc signed a 27-year agreement to buy Qatari liquefied natural gas for the Netherlands.
Read more »
Exclusive-Countries asked to slash cooling emissions by 68% by 2050Explore stories from Atlantic Canada.
Read more »
World Needs $7 Trillion to Avoid Gas Shortage, Says Japan Think TankThe world will need $7 trillion to ensure there is sufficient gas supply through 2050 as nations shift to cleaner energy sources, according to a think tank in Japan.
Read more »
Thousands in Muslim countries and beyond demonstrate over Israeli airstrikesThousands of people in Muslim countries and beyond held demonstrations Friday in solidarity with Palestinians in the Gaza Strip. They called for an end to Israel's blockade and airstrikes following a brutal incursion into southern Israel by fighters from the Hamas militant group that rules Gaza.
Read more »
CME in 'strongest position' for deals, CEO says, despite rising competitionCME Group is in strong position to make acquisitions, armed with low debt and robust earnings, Chief Executive Officer Terry Duffy told Reuters, even as the ...
Read more »
CME in 'strongest position' for deals, CEO says, despite rising competitionExplore stories from Atlantic Canada.
Read more »