COP-21 communications

The Paris Puzzle

The pathway to a low-emissions future

IPIECA has developed The Paris Puzzle – our set of communications on the challenges and responses needed to address the risks of climate change, in light of the new global agreement at COP-21 in Paris, 2015, under the UN Framework Convention on Climate Change.


The UNFCCC negotiations have the potential to instigate a significant increase in the level of ambition, both for governments and for the private sector, in the global effort to reduce greenhouse gas (GHG) emissions and manage the risks of climate change.

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KEY MESSAGES

  • IPIECA recognises that addressing the risks of climate change is a challenge for our generation and will be for those to come. Meeting the challenge will require actions from all parts of society. Significant policy action, technology development and business response will be needed over many decades. The oil and gas industry can play a key role in helping society to meet the challenge.

  • IPIECA supports and encourages governments in their efforts to reach an effective and clear international agreement to reduce greenhouse gas emissions and to manage the risks of climate change.

  • IPIECA believes it is possible to address climate change risks while also meeting growing global energy demand and supporting economic development. As an industry we are already taking a range of actions across our own operations and products to support these goals.

 

The pieces of The Paris Puzzle

The oil and gas industry must be a key part of the climate change solution. The industry’s history of innovation, global reach, knowledge and technical expertise uniquely positions it to help develop and provide credible future energy solutions. The industry is already addressing many of the pieces of the puzzle. To this end, IPIECA has created a series of papers intended to address what we see as key components of efforts or ‘pieces of the puzzle’ to address climate change and demonstrate our commitment to meeting the challenge. These include: Meeting energy needs, Effective policy, Managing our emissions, Natural gas and Carbon capture and storage. Collectively, these papers highlight the fundamental role and contribution of our industry in addressing the challenge of a transition to a low-emissions future.

 

MEETING ENERGY NEEDS: THE UNIQUE ROLE OF OIL AND GAS

  • Energy is essential for societal development.
  • Oil and gas play an instrumental role in providing energy.
  • All energy sources will be needed to meet growing demand, including renewables and oil and gas.

EFFECTIVE POLICY: THE DRIVER OF RESULTS

  • IPIECA supports and encourages the international community’s efforts to address the risks of climate change and believes the oil and gas industry has an essential part to play in meeting policy objectives.
  • The long-term objective of climate policy should be to reduce the risk of serious impact to society and ecosystems, while recognizing the importance of abundant, reliable and accessible energy for the world’s growing population.
  • Effective policies to manage the risks of climate change will be those that are science-based, extend globally, are market driven and provide policy certainty but flexibility as understanding develops.

MANAGING OUR EMISSIONS: ENERGY CONSERVATION AND BEYOND

  • Improving energy efficiency in the production of oil and gas can make a significant contribution to moving the world onto a more sustainable energy path.
  • Conserving energy goes beyond traditional energy efficiency measures; it includes flaring reduction, control of methane emissions and other efforts.
  • Oil and gas companies support consumers in reducing their energy usage and GHG emissions through efforts, including fuel conservation, alternative fuels and developing CSS technologies.

NATURAL GAS: INTO THE FUTURE

  • Natural gas is the cleanest-burning fossil fuel and is increasingly accessible, affordable, abundant and flexible.
  • Natural gas will continue to play a pivotal role in a global shift towards a low-carbon economy.
  • There is a significant near-term opportunity to reduce global emissions by fuel-switching from coal to natural gas.

CCS: A KEY TECHNOLOGY FOR DELIVERING A LOW-EMISSIONS WORLD

  • Carbon capture and storage (CCS)is a key technology for delivering significant emissions reductions during this century. Without it, deep cuts in emissions are likely to be more costly and, at worst, unachievable.
  • CCS comprises a number of technologies that are widely used in the oil and gas industry and are readily available from a range of suppliers, companies and service providers.
  • Deployment of CCS on a scale that makes a material contribution to reducing CO2 emissions requires addressing current barriers, which include: cost, complexity along the value chain, regulatory/policy uncertainty, public acceptance, large-scale storage sites and long-term liability issues.

For more information please contact Robert Siveter, Climate Change Senior Manager at robert.siveter@ipieca.org