The oil and gas sector needs a new coalition to tackle climate change.
That is the suggestion from Sir David King, the UK’s Special Representative for Climate Change.
Speaking at the International Petroleum (IP) Week conference in London yesterday, he said the new industry coalition should help small companies grow as the country moves towards a low carbon economy.
He believes renewables, nuclear and carbon capture and storage (CCS) are three key technologies that would help towards the transition and insisted the UK is committed to all of them.
His comments come as the government scrapped the £1 billion CCS competition las year, which has been criticised by those in the industry.
The Energy and Climate Change Committee’s latest report also revealed the nation’s climate targets could be at risk without invesment in the technology.
Jacqueline McGlade, Chief Scientist and Director Division of Early Warning and Assessment at the UN agreed about the need for the sector to tackle climate change.
She said: “The UN is ready to work with the oil and gas industry to help achieve global climate ambitions. The door is open.”
Ms Glade believes governments think emission reduction policies are working but “in reality they have not touched planetary inventory”.
She added: “Energy Ministers need to increase public funding in research and development to mitigate climate risks.”