The seven major private oil companies are expected to reduce their production by more than a third by 2040 to keep carbon dioxide emissions within the Paris Agreement's targets, according to a non-governmental organization studying the sector.
agreements – signed by states and not directly affecting private companies – commit to a warming target " significantly below two degrees " compared to the pre-industrial era and if possible 1.5 degrees
The carbon dioxide emissions that contributing to global warming according to a known model, it is possible to calculate a " global carbon budget " for different scenarios. At the current global emissions rate, the " budget " for a 1
Reduce their total emissions by 40%
For its study of " majors " it was based on a scenario from the International Energy Agency (AIE), pending a warming within the Paris Agreement , compared to available data on the predictable emissions generated by the major projects of the seven "19459004" majors "(ExxonMobil, Shell, Chevron, BP, Total, Eni and ConocoPhillips) in the oil and gas field.
To remain in the " coal budget " in this scenario, they should reduce their total emissions by 40% and their production by 35% Carbon Tracker ends.
" There is a carbon limit that can be released out for a level of climate change, which means that if we are to achieve a result, under the Paris Agreement or any other goal, production of fossil fuels must be reduced, said Andrew Grant,
" And if the companies promise to support the Paris Agreement, they plan to produce more oil , gas and coal "the analyst emphasizes. Several companies have committed to reducing the intensity of their emissions in terms of production, while leaving the door open to increases in global production, as global demand for energy continues to grow.
According to the study, the American giant is ConocoPhillips, which should make the most cuts, with a reduction in production and emissions of 85%, against only 10% of production (and 15% of emissions) for the Anglo-Dutch Shell. 19659002] ConocoPhillips responded to AFP " who handled greenhouse gas emissions in our business and integrates climate change related activities into our goals ". A Shell spokeswoman said that the company did not make production forecasts but had " the ambition to reduce our net carbon footprint (and had) introduced short-term goals to measure progress. ".