The Issue
Global climate change has potentially significant consequences for society and
the international petroleum industry, both from possible future impacts of climate
change and from socio-economic consequences of policies developed to respond
to climate change. Increasing stakeholder understanding of the scientific, policy,
and technological developments in this rapidly evolving field is essential.
The global public policy response to address concerns about climate change is
represented by the United Nations Framework Convention on Climate Change
(UNFCCC), which has been ratified by 189 states and the European Community, and came into force in 1994. The Kyoto
Protocol to the UNFCCC specifies targets and timetables for emissions limits in developed countries for the period 2008-12 and was formally adopted by the countries that have ratified the treaty in February 2005. Negotiations to address
future commitment periods were initiated in 2006 although it remains uncertain what kind of international framework may
evolve in the longer term.
Assessment of the scientific, technical and socio-economic understanding of climate change and the limits of that
understanding is the primary task of the Intergovernmental Panel on Climate Change (IPCC). IPCC assessments are used to
inform policy decisions at both the national and international level by assessing risk and response options associated with
human-induced climate change. The Fourth Assessment Report (AR4) gives evidence for the causes of recent climate change,
and reports projections for future climate change. Major uncertainties remain in our ability to forecast climate change. The
international petroleum industry is providing input to the IPCC process and this is essential to ensure assessments are sound
and that policy relevant aspects pertinent to industry are addressed appropriately.
The managing and reporting of Greenhouse Gas (GHG) emissions from oil and gas operations have become increasingly
widespread. The international petroleum industry is providing constructive input to evolving regulatory and voluntary
regimes through the development of credible best practice guidelines.
Industry activities
IPIECA members are taking steps today to limit
greenhouse gas emissions from operations and to improve customers'
ability to use our products more efficiently, now and in the
future. Company policies and actions are implemented through
operational management systems, investments, and research
and development.
While actions by IPIECA members differ from company to company, they include steps such as:
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operational efficiency improvements from
design, maintenance and logistics; |
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investments in new processes, cogeneration facilities
and other equipment; |
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participation in commercial ventures based on renewable
energy; |
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and research and development aimed at commercialization
of innovative products and technologies. |
Some of these technologies include separation
and sequestration of CO2, advanced automobile engine technologies
and fuel cell powered vehicles, biofuels and advanced fuels.
Some members have committed themselves to reduce greenhouse
gas emissions from operations; some have established internal
emissions trading programmes to seek cost-effective reductions
across diverse operations; and some are seeking to develop
projects that would qualify under the Kyoto Mechanisms.
Through these steps our members intend to be a source of solutions
to challenges and concerns about climate change. In this goal,
IPIECA plays an important role for our members by helping
us to develop and exchange knowledge and engage in international
deliberations.
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Climate Change Links
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