Nations try to procrastinate their way to net-zero

Presented by Chevron: Your guide to the political forces shaping the energy transformation
May 22, 2024 View in browser
 
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By Arianna Skibell

Presented by Chevron

Emissions rise from smokestacks.

Emissions rise from the smokestacks at the Jeffrey Energy Center coal power plant near Emmett, Kansas. | Charlie Riedel/AP

Dozens of countries have pledged to cut their net planet-warming pollution to zero by the middle of the century — but most have no idea how hard they’ll need to work to get there.

That’s risky, writes Chelsea Harvey, because any greenhouse gas pollution that countries fail to eliminate at the source will need to be sucked out of the air afterward — a technological feat that’s far from being deployed on a large scale. Or countries will need to “offset” that pollution by buying credits from other countries.

Yet the vast majority of countries haven’t even offered an estimate of how much of this leftover pollution they will have to deal with.

Right now, the world’s largest direct air capture plant is capable of removing less than 1 percent of the annual emissions of a typical coal-fired power plant. And the technology’s prospects face other obstacles, such as competition for land use.

Countries that have done the math expect to remove or offset anywhere from 5 percent to a whopping 52 percent of their peak greenhouse gas emissions by 2050, according to a new study.

Some of those estimates are likely low. That’s because they omit the likeliest suspects for continued carbon pollution: aviation and shipping, two sectors whose greenhouse gas emissions are widely expected to be hard to cut.

Experts say world leaders should try to eliminate atmospheric pollution as much as possible by producing less of it on the front end, leaving less carbon to pull out of the air after the fact.

But only 72 of the 195 countries that ratified the Paris Agreement have submitted voluntary long-term strategies for achieving a low-carbon economy by midcentury. Of those, a mere 26 included an estimate of what their remaining emissions will be. (The United Kingdom and the European Union have submitted “acceptable” net-zero strategies, while the United States’ was merely “average,” according to one scientific group that rates countries’ targets.)

Most wealthy countries predicted their leftover pollution will be between 5 and 15 percent by 2050. But not all. Canada presented a range of possible future scenarios, including residual pollution totaling anywhere from 17 to 44 percent of the country’s peak emissions. Australia’s scenarios range from 36 to 52 percent.

Those high ranges indicate that some countries don’t necessarily plan to switch away from oil, coal and natural gas. Canada’s long-term plan makes that explicit: “[F]ossil fuel production and consumption could remain higher,” it says, if carbon removal technologies become viable at large scales.

 

It's Wednesday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Arianna Skibell. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to askibell@eenews.net.

 

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Today in POLITICO Energy’s podcast: Josh Siegel and Catherine Morehouse break down the likelihood lawmakers reach a deal on updating the nation's permitting rules after Democratic Sen. Joe Manchin of West Virginia raised expectations this week.

Power Centers

Sen. Sheldon Whitehouse (D-R.I.) and Rep. Jamie Raskin (D-Md.).

Senate Budget Chair Sheldon Whitehouse (D-R.I.) and House Oversight and Accountability ranking member Jamie Raskin (D-Md.) during a press conference at the Capitol on Wednesday. | Emma Dumain/E&E News

Democrats refer oil investigation to DOJ
Two congressional Democrats are asking the Justice Department to pick up their investigation into major oil companies' alleged, decadeslong climate misinformation campaign, write Emma Dumain and Lesley Clark.

The escalation marks a new phase in lawmakers’ crusade to hold oil and gas companies, and their trade associations, accountable for the extent to which their activities have contributed to global warming.

The sun sets on coal?
Under the Biden administration's climate rule for power plants, all but one of the nation's 15 dirtiest facilities would have to retire early or shell out for expensive new equipment, writes Jason Plautz.

Only one other power plant has started the process of evaluating carbon capture technology that would allow it to stay open past 2039.

In Other News

Cha-ching! A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries.

Water-logged: A new study found that the U.K.'s "never-ending" rain was made 10 times more likely by climate change.

 

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Waves break on the shores of Tuvalu, a South Pacific island nation.

Small island nations like Tuvalu (pictured) brought a climate case to a court overseeing a global ocean convention. | Torsten Blackwood/AFP via Getty Images

An international court governing the world’s oceans issued a first-of-its-kind ruling that countries must protect marine environments from climate change by cutting their planet-warming pollution.

A federal appeals court voided the government’s plan to conduct exploratory drilling for gold on public lands in California — a move that could have implications for other battles over environmental reviews.

Democrats on the House Energy and Commerce Committee are launching an investigation into whether oil companies colluded with OPEC to fix fuel prices.

That's it for today, folks! Thanks for reading.

 

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By 2028, our upstream methane intensity target is set to be 53% below the 2016 baseline. To help us get there, we’ve trialed 14 advanced methane technologies including satellites, planes, drones, and fixed sensors to help reduce methane emissions intensity. In the Permian, we have deployed real-time autonomous optimizers that continuously monitor facilities and well conditions to help prevent flaring, venting and well shutdowns. Developing new solutions to provide energy that’s affordable, reliable and ever-cleaner, that’s energy in progress.

 
 

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