NEWS

July 18, 2016

What COP21 means for the energy sector

In an event promoted by IBP, Catavento moderates debate with Academy, industry and civil society representatives

The debate held in May of 2016 by the Brazilian Oil, Natural Gas and Bio-fuel Institute- IBP, addressed relevant questions: what are the Brazilian commitments in the new global greenhouse gas emissions reduction agreement? What are the impacts of those commitments in the oil and gas industry?

COPPE/UFRJ`s professor Suzana Kahn, climate specialist Branca Americano, responsible for the Climate and Society Institute and Shell´s executive director Flavio Rodrigues were part of the event. Clarissa Lins, founding partner of Catavento, moderated the debates.

The energy sector relevance to the climate agenda was emphasized by Professor Suzana Kahn, who pointed out that 67% of the global greenhouse gas emissions comes from energy use. That said, climate change adaptation and mitigation demands a new approach to the energy matrix and to energy use, notably to fossil fuels.

Branca Americano point out that in the Climate Conference of Paris (COP21) Brazil only committed to a greenhouse gas emissions reduction, in relation to 2005 levels, at 37% until 2025 and 43% until 2030. To support that commitment, the Brazilian government intentions in the energy sector were:  increasing renewable share on the energy matrix from 40% (2014) to 45% (2030), stimulating a bigger penetration of non-hybrid renewable – solar, wind and bioenergy; increasing the share of bio-fuel in the Brazilian energetic mix to 18% and promoting energy efficiency gains of 10%.

Flavio Rodrigues highlighted how a global company like Shell already takes into account climate constraints to stablish its strategic focus, conciliating a robust natural gas portfolio – fossil fuel relatively less CO2 emitter, investments on carbon capture and storage (CCS) technology and energy efficiency. Shell also has been using an internal carbon price for many years.

During the debates, Clarissa Lins pointed out the importance of IBP promoting the debate around such relevant issues for the future of the oil and gas industry. On the other side, she reinforced the need to close the gap between relevant actors for this matter, such as Academy, civil society and companies.

The debates were part of a long term global perspective pointed out in “Long Term Trends for the Energy Sector” study, ordered by IBP to Catavento and presented in the 58th Institute anniversary celebration event, in November of 2015.