Shell CEO on CO2 reducion
FT.com -States should create a climate for change
Excerpts :
Policies need to accelerate society’s search for CO2 solutions and greener fossil fuels.These fall into two broad categories: standards and market mechanisms.
One approach could be to toughen regulations on the energy efficiency of everything from buildings to consumer appliances. This would help to encourage conservation. Japan, which has promoted conservation through a variety of rules since the 1970s energy crisis, provides a good example of how effectively they can influence consumption. Japan used the equivalent of 2.8 tonnes of oil per person in 2004, compared with 5.4 tonnes per person in the US, according to the International Energy Agency.
Carbon trading needs to become global in order to be truly effective.
Governments can partner with industry on large-scale projects to capture and store CO2 from sources such as power plants. Indeed, power generation offers one of the biggest opportunities for limiting emissions. Generation is now responsible for 41 per cent of global energy-related carbon emissions, according to the IEA. That could rise to 44 per cent by 2030, as electricity takes a bigger share of energy consumption. Unlike vehicles, power plants are stationary, making it easier to capture the carbon they emit.
Under Europe’s current carbon trading scheme, companies that undertake projects to capture and store CO2 receive no credit for the reduction in emissions. That must change.
Biofuels made from plants and organic waste also have the potential to lower transport emissions. Today, however, many are made from food crops such as corn and sugar cane that require lots of energy to produce. Although these fuels can reduce emissions, second-generation biofuels made from non-food sources could offer even greater reductions.
At Shell we focus on second or even third-generation biofuels that squeeze more litres out of fewer acres.
Since 2000, we have invested more than $1bn (£503m) in alternative energy sources such as wind, solar and hydrogen. Our aim is to turn one of them into a substantial business over time.
Excerpts :
Policies need to accelerate society’s search for CO2 solutions and greener fossil fuels.These fall into two broad categories: standards and market mechanisms.
One approach could be to toughen regulations on the energy efficiency of everything from buildings to consumer appliances. This would help to encourage conservation. Japan, which has promoted conservation through a variety of rules since the 1970s energy crisis, provides a good example of how effectively they can influence consumption. Japan used the equivalent of 2.8 tonnes of oil per person in 2004, compared with 5.4 tonnes per person in the US, according to the International Energy Agency.
Carbon trading needs to become global in order to be truly effective.
Governments can partner with industry on large-scale projects to capture and store CO2 from sources such as power plants. Indeed, power generation offers one of the biggest opportunities for limiting emissions. Generation is now responsible for 41 per cent of global energy-related carbon emissions, according to the IEA. That could rise to 44 per cent by 2030, as electricity takes a bigger share of energy consumption. Unlike vehicles, power plants are stationary, making it easier to capture the carbon they emit.
Under Europe’s current carbon trading scheme, companies that undertake projects to capture and store CO2 receive no credit for the reduction in emissions. That must change.
Biofuels made from plants and organic waste also have the potential to lower transport emissions. Today, however, many are made from food crops such as corn and sugar cane that require lots of energy to produce. Although these fuels can reduce emissions, second-generation biofuels made from non-food sources could offer even greater reductions.
At Shell we focus on second or even third-generation biofuels that squeeze more litres out of fewer acres.
Since 2000, we have invested more than $1bn (£503m) in alternative energy sources such as wind, solar and hydrogen. Our aim is to turn one of them into a substantial business over time.
posted by AshishBhardwaj at 7:54 PM
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