February 5, 2021 Read More →

Study: New pipelines would supercharge CO2 emissions

The Energy Mix:

A 212,000-kilometre network of oil and gas pipelines now in construction or under development around the world could set investors up for US$1 trillion in stranded asset risk, while enabling 170 billion tonnes of carbon dioxide emissions over their full operating lives, Global Energy Monitor (GEM) warns in a devastating assessment released this week.

Despite early commitments by the Biden administration to rein in fossil fuel development, the industry’s construction plans imperil the emission reduction goals in the 2015 Paris Agreement and put pipelines “on a collision course with commitments by most large economies to transition to carbon neutrality by mid-century, setting the stage for large amounts of stranded assets,” the organization states.

Writing for Greentech Media, Sunrise Project analyst Justin Guay says investors’ stubborn interest in pipeline projects runs counter to two key trends—the drive for net-zero emissions, and the more than 50 global financial institutions that have already released oil and gas exit policies, according to the Cleveland-based Institute for Energy Economics and Financial Analysis (IEEFA). 

[Staff Report]

More: 212,000 Kilometres of New Pipelines World-Wide Would Enable 170 Billion Tonnes of Emissions, Analysts Warn

Posted in: IEEFA In the News

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