The world’s reliance on burning fossil fuels for electricity has barely changed in two decades and global carbon emissions rose last year despite efforts to tackle climate change, BP has warned. Spencer Dale, the oil major’s chief economist and a former member of the Bank of England’s rate-setting monetary policy committee, said that the analysis of the global power mix was “really worrying” and was a “wake-up call” for action on generating green electricity. “How much progress have we made in 20 years? None,” he said. BP has operations in more than 70 countries, ranging from exploring for gas off the coast of Africa to selling ready meals and fuel at service stations around Britain. Unveiling BP’s annual statistical review of world energy, Mr Dale said that global carbon emissions from energy had risen by 1.6 per cent last year, after three years of “little or no growth”. This had been driven by the first increase in coal consumption for four years, mainly because of growth in India, in “disappointing” news for the energy transition. The gloomy findings contrast with evidence of sharp increases in wind and solar power generation in recent years, including what BP said was a record 17 per cent rise in renewable power generation last year.
Times 14th June 2018 read more »
BP has warned that the global consumption of fossil fuels has increased for the first time in years, delivering a blow to the Paris climate goals agreed by almost 200 countries just two years ago. The oil major’s annual review of world energy trends shows that, after years of modest decline, the appetite for oil, gas and coal increased last year due to energy-hungry countries in the developing world. Global energy consumption in 2017 grew by its fastest rate in five years at 2.2pc, well above the 1.7pc average over the last decade and significantly higher than the 1.2pc growth recorded in 2016. The growing demand was spurred by China where the growth in demand for energy was the strongest in the world for the seventeenth consecutive year. China’s energy use grew by 3.1pc, spurring a dramatic 15p c increase in the use of gas and a 50pc increase in the amount of gas imported via tanker from the global market for liquefied natural gas. Rapidly developing countries such as China and India have turned to natural gas and coal to fuel the revival in their economies, causing greenhouse gas emissions to rise by 1.6pc after three flat consecutive years.
Telegraph 13th June 2018 read more »
The renewed upward march of global carbon emissions is worrying and a big step backwards in the fight against climate change, according to BP. Emissions rose 1.6% in 2017 after flat-lining for the previous three years, which the British oil firm said was a reminder the world was not on track to hit the goals of the Paris climate deal. Renewable power generation grew by 17% last year, led by wind and followed by what BP called “stunning” growth in solar. But strong economic growth led to above-average energy demand, coal use bounced back in China and efficiency gains slowed down, causing emissions to jump, the company’s annual statistical review of world energy found.
Guardian 13th June 2018 read more »