The oil and gas industry must be a key part of the climate change solution. Since the Paris Agreement was made in December 2015, IPIECA has continued to work on the topic of low emissions pathways, holding workshops for members exploring technologies and perspectives on low emissions futures, in particular the role of carbon offsets in GHG mitigation and sustainable finance, and series of webinars on carbon pricing and carbon capture and storage (CCS).
In the run up to Paris COP-21, IPIECA created the Paris Puzzle, a series of papers intended to address what we see as key components of efforts to address climate change and demonstrate our commitment to meeting the challenge. Collectively, these papers highlight the fundamental role and contribution of the oil and gas industry in addressing the challenge of a transition to a low-emissions future.
Ahead of COP-22 in Marrakech IPIECA released a new paper, Exploring low emissions pathways, which explores the common elements and critical enablers of a low emissions future. Following on from then, at COP-23 IPIECA delivered a side event on CCS and its potential role in helping to meet to goals of the Paris Agreement. At COP-24 our focus switched to low-emissions transport and in the following summer IPIECA produced the paper, Exploring low-emissions pathways for transport. This built upon our previous work and explored the wide range of technologies that will be required for the evolution of the transport sector. Most recently at COP-25, IPIECA held a side event on role of carbon offsets in GHG mitigation and enhancing ambition with focus given to both the potential benefits but also risks associated with them.
IPIECA will continue to explore the critical issues and convene our membership to explore and support a low emissions future. The latest endeavour of IPIECA’s dedicated Low Emissions Pathways Task Force is to explore the role of hydrogen in the energy transition, whereby an awareness brief, examining the opportunities and challenges of hydrogen, will be produced
Hear what ConocoPhillips CEO, Malcolm Fawcett, has to say about the value of IPIECA, and publications such as The Paris Puzzle and Exploring low-emissions pathways.
Carbon capture and storage
Carbon capture and storage (CCS) prevents CO2 emissions (primarily from large stationary sources such as power stations) from entering the atmosphere, and could therefore play a significant role in the effort to limit climate change. IPIECA has produced workshop reports and a factsheet to help advance understanding of the role of CO2 capture and strategies to improve its performance and prospects.
Biomass is a renewable resource that has the potential to supply a limited portion of the world’s energy needs. IPIECA focuses on promoting sustainability throughout the biofuels supply chain, in the understanding that the biofuels industry contributes to rural economies and helps to reduce greenhouse gas emissions.
IPIECA supports the development, ultimate adoption and government enforcement of an internationally recognized, transparent and accepted certification scheme, such as that presently under development by the Roundtable on Sustainable Biofuels (RSB). IPIECA is engaging in this process by co-chairing the implementation Working Group and participating on the Verification Expert Panel. Through this engagement, we hope to facilitate improved communication between the International Organization for Standardization (ISO), RSB and the European Standards Organization(CEN), with the goal of creating one certifiable global standard. This will be of significant value to both the oil and gas industry and the wider community.
The challenge of large scale biomass production
Large-scale biomass cultivation can take land away from food production and drive up food prices. It might also lead to the clearing of forests and other land with a high carbon content, which could result in an overall increase in greenhouse gas emissions for decades to come.
Ensuring biofuel is sustainably produced
By evaluating Chain of Custody (CoC) systems, IPIECA ensures the sustainability credentials of the final biofuel product at the fuel pump. IPIECA has produced three guides that provide an introduction to biofuels and CoC systems.