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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. Equinor has announced plans to invest $10B into clean energy by 2025, mostly through its offshore wind portfolio. 1 Equinor. 2 Total SA.

Oil 418
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California 2017 GHG inventory shows 1.2% total drop from 2016; transportation sector emissions up 1%

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In 2017, emissions from GHG emitting activities statewide were 424 million metric tons of CO 2 equivalent (MMTCO 2 e), 5 MMTCO 2 e lower than 2016 levels and 7 MMTCO 2 e below the 2020 GHG Limit of 431 MMTCO 2 e. Compared to 2016, California’s GDP grew 3.6% In-State Hydro, Solar, and Wind Electricity Generation.

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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.

2004 225
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IEA finds CO2 emissions flat for third straight year even as global economy grew in 2016

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Global energy-related carbon dioxide emissions were flat for a third straight year in 2016 even as the global economy grew, according to the International Energy Agency. The decline was driven by a surge in shale gas supplies and more attractive renewable power that displaced coal.

Economy 199
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EIA: CO2 emissions from US power sector have declined 28% since 2005

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The power sector has become less carbon-intensive as natural gas-fired generation displaced coal-fired and petroleum-fired generation and as the noncarbon sources of electricity generation—especially renewables such as wind and solar—have grown. In 2005, noncarbon sources accounted for 28% of the US electricity mix.

2005 414
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Rhodium Group estimates US GHG fell 2.1% in 2019, driven by coal decline

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All told, net US GHG emissions ended 2019 slightly higher than at the end of 2016. The switch from coal to natural gas and renewables in the electric power sector accounts for the majority of the progress the US has made in reducing emissions over the past decade. Coal-driven decline.

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Nissan cut CO2 emissions 22.4% over past decade

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Nissan’s measures to reduce emissions include the following: Nissan UK has installed 19,000 solar panels to join 10 wind turbines at its Sunderland plant, generating enough power to build more than 31,000 cars every year. The power derived from the solar panels and wind turbines accounts for 7% of the plant’s total usage.

Nissan 150