In a launch despatched to Rigzone just lately, trade physique Offshore Energies UK (OEUK) mentioned the UK’s offshore vitality trade is on monitor to fulfill its personal local weather objectives and isn’t slowing down.
The group added that OEUK is “main calls to create the optimistic and steady funding atmosphere wanted to attain a homegrown vitality transition that everybody desires to see”.
OEUK’s launch was revealed in response to a UK Local weather Change Committee report, which outlined that the UK isn’t on monitor to hit its first web zero associated goal.
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“The UK has dedicated to cut back emissions in 2030 by 68 % in comparison with 1990 ranges, as its Nationally Decided Contribution (NDC) to the Paris Settlement,” the report said.
“It’s the first UK goal set consistent with web zero. Now solely six years away, the nation isn’t on monitor to hit this goal regardless of a major discount in emissions in 2023,” it added.
The report famous that the nation must “quickly scale back oil and gasoline use”, really helpful that the UK authorities limits the growth of fossil gas manufacturing, and warned that “speedy preliminary deployment and scale-up of novel applied sciences together with carbon seize and storage may even have to happen this decade”.
“As one of many first sectors to enroll to web zero, we’re accelerating the discount of emissions from offshore oil and gasoline manufacturing,” OEUK CEO David Whitehouse mentioned within the OEUK launch.
“In 2022 the UK’s oil and gasoline sector decreased manufacturing emissions by 24 %, halved flaring and venting, and has lower methane emissions by 45 % in comparison with 2018. This implies the sector achieved its interim goal – a discount of 10 % by 2025 – three years early,” he added.
“Additional emission reductions can be achieved with the assistance of main capital initiatives, like carbon seize, floating wind, and hydrogen. So, the report’s suggestion to ramp up carbon seize and storage initiatives and enhance offshore wind capability by rising funding for future licensing rounds are steps in the suitable route,” he continued.
Within the launch, Whitehouse mentioned way more should be completed to seize and retailer a minimum of 20 to 30 megatons of carbon and generate 50 gigawatts of offshore wind by 2030.
“These large leaps ahead want a optimistic funding atmosphere throughout the entire vitality combine,” he mentioned.
“The UK wants a sensible plan to cut back each demand for oil and gasoline and scale back our reliance on imports. On this journey, we needs to be prioritizing our homegrown vitality manufacturing which helps jobs and communities throughout the UK,” he added.
“By working in partnership with our offshore trade, the brand new authorities can create the circumstances to unlock funding, assist our provide chain firms, underpin jobs, develop the economic system, and ship on our local weather objectives,” he continued.
“One of the best path to web zero is backing our firms and folks right here within the UK,” he went on to state.
Whitehouse famous within the launch that the trade is able to work with the brand new authorities to “create the circumstances we have to unlock funding and create the expert, safe, sustainable future all of us wish to see”.
Rigzone has contacted the Local weather Change Committee and the UK authorities for touch upon OEUK’s launch. On the time of writing, neither group has responded to Rigzone’s request.
OEUK describes itself because the main commerce physique for the UK’s offshore energies trade. Its membership consists of over 400 organizations with an curiosity in offshore oil, gasoline, carbon seize and storage, hydrogen, and offshore wind, OEUK notes in its newest launch.
The Local weather Change Committee describes itself as an unbiased, statutory physique established below the Local weather Change Act 2008. Its goal is to advise the UK and devolved governments on emissions targets and to report back to parliament on progress made in decreasing greenhouse gasoline emissions and making ready for and adapting to the impacts of local weather change, the group’s web site states.
The Committee’s report “offers a complete overview of the UK authorities’s progress to this point in decreasing emissions”, its web site notes.
To contact the creator, electronic mail andreas.exarheas@rigzone.com
