July 16, 2021 Read More →

Greenland cites climate risk in dropping future oil exploration

Bloomberg ($):

Greenland has decided to drop all future exploration for oil as the government responds to environmental concerns, according to Danish media.

Naalakkersuisut, as the island’s government is called, “has decided that the environmental consequences of oil exploration and production are too great,” Naaja, H. Nathanielsen, minister for commodities, said, according to ING.dk.

Greenland’s government, which is led by the socialist IA party, has been in office since winning elections in April and has made climate a key plank of its program.

Greenland’s west coast alone is estimated to contain about 18 billion barrels of oil, ING.dk said.

“The future is not in oil,” Greenland’s government said, according to ING.dk. “The future belongs to renewable energy.”

[Tasneem Hanfi Brogger and Morten Buttler]

More: Greenland Abandons All Future Oil Exploration, ING.dk Says

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