Published by Todd Bush on December 26, 2024
The Science Based Targets initiative (SBTi) has released updated plans for its sectoral standards targeting the oil and gas, chemicals, and power industries—three of the largest global emitters. _These updates aim to create science-aligned net-zero pathways, equipping businesses in high-emitting sectors with robust criteria to reduce their environmental impact.
“By prioritizing sectors with the greatest potential to drive decarbonization, the SBTi provides businesses with the tools they need to lead the energy transition,” stated the initiative.
>> In Other News: Frontier Climate's Alkalinity Sourcing Challenge: Driving Breakthroughs in Carbon Removal
The oil and gas industry is responsible for 85% of global CO2 emissions. SBTi’s new standard will guide companies on decarbonizing their business models while attracting financing and enabling a smooth energy transition.
The Terms of Reference details milestones, with a draft expected for public consultation in early 2025._A second consultation will extend to 45 days to ensure rigorous stakeholder input.
The chemicals sector supports 95% of manufactured products and is the third-largest industrial emitter worldwide, contributing to key industries like agriculture, construction, and healthcare.
SBTi’s Chemicals Sector Criteria is open for pilot testing and public consultation until January 10, 2025._The final criteria will be released in Q3 2025, aiming to decarbonize the sector and support its vital role in the global economy.
With the power sector responsible for the largest share of global CO2 emissions, SBTi plans to tackle its environmental footprint as electricity demand rises.
The first draft of the Power Sector Standard will be released for consultation in Q2 2025._Expert advisory groups are providing ongoing guidance to ensure practical and ambitious outcomes.
SBTi is also working on sector standards for automotive and apparel and updating its Corporate Net-Zero Standard to ensure compatibility across resources. These tools will streamline the target-setting process for businesses.
Timelines remain tentative, reflecting the complexity of consensus-building and stakeholder engagement. The updates represent a significant step forward in global decarbonization efforts.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🚂 Ballard Announces 1.5 MW Fuel Cell Engine Order for Sierra Northern Railway 🌊 Sonardyne Secures Monitoring Deal for NEP CCS Project 🏆 ClimeFi provides access to CDR portfolio o...
Inside This Issue 🛢️ Chevron Doubles Down on U.S. Hydrogen Innovation with Dual Projects in Texas and California 🧾 Exclusive: White House Considers Plan to Clear Record Backlog of Small Refinery B...
Inside This Issue 💸 Trump Administration Cancels $3.7 Billion in Clean Energy Projects, Ending Ambitious Industrial Decarbonization Efforts 🌊 A New Protocol for Carbon Removal via Direct Ocean Cap...
Ballard Announces 1.5 MW Fuel Cell Engine Order for Sierra Northern Railway
VANCOUVER, CANADA – Ballard Power Systems (NASDAQ:BLDP; TSX:BLDP) today announced the signing of a new supply agreement with California-based rail operator Sierra Northern Railway for the supply of...
PureWest and Gunvor Group Partner to Accelerate Use of Verified Low-Carbon Gas Solutions
PureWest Energy, LLC ("PureWest"), a leading Rocky Mountain independent natural gas producer recognized for its low methane and carbon emission rates, and Gunvor USA LLC, a member of Gunvor Group (...
Towards Net Zero: Sustainability Meets Efficiency with E-Drive
In the first blog of this series, we introduced the roadmap that will make Woodfibre LNG one of the lowest-emission LNG facilities in the world. A key component of that strategy is the E-Drive syst...
ClimeFi provides access to CDR portfolio of XPRIZE competition Winners and Finalists
ClimeFi has partnered with XPRIZE to provide CDR buyers with a portfolio that offers unrivalled exposure to the XPRIZE Carbon Removal competition Winners and Finalists ClimeFi has partnered with X...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.