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3 Oil Majors That Bet Big On Renewables

Green Car Congress

Despite the much-vaunted megatrend involving the global electrification drive and shift to renewable energy , the most ambitious pledges by Big Oil to pursue net-zero agendas remain weak at best. BIT:ENI) recently unveiled what has been hailed as the most ambitious climate pledge yet by an oil supermajor.

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GM to reach 100% renewable energy in US by 2025, 5 years ahead of schedule

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General Motors plans to source 100% renewable energy to power its US sites by 2025—five years earlier than previously announced, and 25 years ahead of its initial target that was set in 2016. Sourcing renewable energy is a critical component of GM’s plans to decarbonize its portfolio.

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Neste: use of our renewable fuels reduced global climate emissions by 8.3 million tons in 2017

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Replacing fossil fuels with Neste’s renewable fuels reduced global climate emissions altogether by a 8.3 The emission reduction is calculated by comparing the life cycle greenhouse gas emissions of the renewable fuels that Neste produces in a year to the life cycle emissions of conventional European diesel.

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EEA: rising energy consumption, particularly in transport, slows EU progress on renewables and energy efficiency targets

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Progress on increasing the use of renewable energy and improving energy efficiency is slowing across the European Union, putting at risk the EU’s ability to achieve its energy and emissions reduction targets. EU progress towards 2020 and 2030 targets on climate and energy. Progress on renewables.

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California ARB: GHG emissions fell below 1990 levels for first time in 2016; down 13% from 2004 peak; transportation emissions up 2%

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The California Air Resources Board (CARB) announced that greenhouse gas emissions in California in 2016 fell below 1990 levels for the first time since emissions peaked in 2004—a reduction roughly equivalent to taking 12 million cars off the road or saving 6 billion gallons of gasoline a year.

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EPA: US GHG emissions in 2017 down 0.3% from 2016

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from 2016, according to the US Environmental Protection Agency’s (EPA’s) latest Greenhouse Gas Inventory. The decrease in total greenhouse gas emissions between 2016 and 2017 was driven in part by a decrease in CO 2 emissions from fossil fuel combustion. In 2017, total gross U.S. greenhouse gas emissions were 6,472.3

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EEA report: EVs are better for climate and air quality

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Promoting renewable energy and circular economy—including the shared use of vehicles and product design that supports reuse and recycling—will help maximize the benefits of shifting to electric vehicles, according to the report. The EEA has also published a new briefing on the environmental and climate impacts of transport.

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