Banking Regulators Reverse Course on Climate Risk Planning as Political Winds Shift
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Tag: Fossil fuel
U.S. Opposition Derails Global Shipping Emissions Fee, Shifting Climate Strategy
Note: Featured image is for illustrative purposes only and does not represent any specific product, service, or entity mentioned in…
Wall Street’s Friday Frenzy: Key Upgrades, Downgrades, and Market Insights
Major Analyst Calls Reshape Investment Landscape Friday brought a flurry of significant analyst actions across multiple sectors, with notable upgrades…
Conservative Energy Overhaul Sparks Debate Over UK’s Climate Accountability
Conservative energy spokesperson Claire Coutinho has acknowledged that UK domestic emissions would likely increase under her party’s proposed energy strategy,…
Rosebank Oil Field Emissions Reveal Major Climate Impact Following Legal Challenge
The controversial Rosebank oil field development faces renewed scrutiny after revised estimates show it would contribute 249 million tonnes of CO2 emissions over 25 years. Environmental groups argue the project contradicts UK climate commitments as the government faces pressure over fossil fuel dependence.
Legal Ruling Forces Full Climate Impact Assessment
Until recently, fossil fuel projects in the UK were only required to consider environmental impacts from extraction activities, according to legal reports. However, a Supreme Court ruling in June 2023 fundamentally changed assessment requirements after a Surrey resident challenged her local gas project development. The court determined that authorities must account for emissions from both extraction and end-use of the fuels, sources indicate.
Rosebank Oil Field Climate Impact: 249M Tonnes CO2 If Approved
The Rosebank oil field controversy deepens as new calculations reveal it would contribute 249 million tonnes of CO2 emissions over 25 years. This staggering figure is more than 50 times greater than initial extraction-only estimates, raising serious climate concerns.
The controversial Rosebank oil field development faces renewed scrutiny after revised environmental assessments revealed its true climate impact. Following a landmark Supreme Court ruling, Norwegian energy company Equinor has recalculated the project’s emissions to include both extraction and consumption phases, exposing a dramatically different environmental picture that could influence the UK’s climate commitments.