BUSINESS STRATEGY: CLIMATE
The message from climate scientists is stark. Recent reports from the UN Intergovernmental Panel on Climate Change say it is now virtually certain that human activity is warming the planet and that we are on course for dangerous changes in temperature unless we take drastic action.
That means cutting greenhouse gas (GHG) emissions by 40 to 70 per cent from 2010 levels by mid-century and to virtually nothing by 2100 if we are to keep temperature increases to manageable levels of 2C. At current rates, we are on track to increase temperatures by 3.7C to 4.8C by 2100. And the more GHGs we emit now, the more difficult and expensive it becomes to rectify the problem later.
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.