FOSSIL FUELS

Biomass fuels: challenges and opportunities

Biomass, deriving its carbon from atmospheric CO2, is deemed a carbon-neutral fuel (Figure 1). By cycling carbon through energy generation systems as biomass, it offers a means to address climate change. While solar and wind provide carbon-free electricity or H2 through water splitting, they lack the ability to directly produce carbon-based fuels and chemicals without additional carbon sources. Given the current imperative, the primary focus is on biomass-based fuels and chemicals to enable a sustainable future free from carbon emissions.

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COP28 goes into overtime due to differences over fossil fuels use, decision text still awaited

The UN climate summit (COP28) went into overtime as the wait for its final decision text continued on its scheduled concluding day on Tuesday in absence of a common landing zone over the language on fossil fuels. India too has certain red lines, specifically on coal use and methane emission points, which the country already flagged formally to get the best deal for itself. Differences could not be thrashed out despite the countries being in a huddle overnight after getting a draft text from the presidency on Monday evening.
COP28 enters crunch time with countries at odds over fossil fuels

U.N. climate chief Simon Stiell said there had been progress in resolving some disagreements over the last day, but warned that "each step back from the highest ambition will cost countless millions of lives". Countries at the U.N. climate summit in Dubai were waiting on Monday for the COP28 Presidency, held by the United Arab Emirates, to release a new draft text of what would be the hoped-for final agreement.
COP28: India silent on fossil fuels phase-down despite green push

Despite its aggressive renewable energy targets and its role in the adoption of the G20 commitment to triple renewable energy capacity, India has so far maintained a studied silence on the issue of fossil fuels at the ongoing UN Climate Conference in Dubai.
After week-long talks, fossil fuel faultline leaves COP28 divided

There is also a growing demand for the phase out of all fossil fuels, that would include oil and gas as well. Unlike in Sharm El-Sheikh, where India initiated the call for phasing out all fossil fuels, it has been silent in Dubai. The UAE presidency has described the phase out of all fossil fuels as "inevitable" but while it has been clearer about phasing out coal.
Govt's green hydrogen push to cut fossil fuel imports by INR 1 trillion

India has launched the National Green Hydrogen Mission, which was approved by the Union Cabinet in January 2022, with the objective of making the country a leading producer and supplier of the green fuel.
Lula says Brazil's participation in OPEC+ is to stop oil producers using fossil fuels

Brazil indicated on Thursday that it was on the brink of joining OPEC+, a group of 23 oil-producing countries.
World to reckon with future of fossil fuels at COP28 climate summit

The annual United Nations summit from Nov. 30 to Dec. 12 is taking place as the world is poised to shatter another record for the hottest year in 2023, and as new reports confirm countries' current climate pledges are not enough to avert the worst impacts of global warming.
BP seeks partnerships to navigate renewables storm

The oil major plans to expand in low carbon energy in the coming decades as it seeks a long-term business model that can survive the global transition from fossil fuels.
Energy transition requires reliance on fossil fuels in the near term: CEA Anantha Nageswaran

The CEA pointed out that the calculations for net zero needed to take into account the relocation and labour displacement costs. “Nobody is saying it (transition) is not imperative, but it is important to be realistic about what we want to do and in what time frame and the trade-offs,” he stated.
Gaza has oil markets on edge. That could build more urgency to shift to renewables, IEA head says

"Today we are again facing a crisis in the Middle East that could once again shock oil markets," said IEA Executive Director Fatih Birol. That comes on top of the stress on energy markets from Russia's cutoff of natural gas to Europe over its invasion of Ukraine, he said.
Nestle, Volvo among 130 companies urging COP28 agreement to ditch fossil fuels

Over 130 companies, including Nestle, Unilever, Mahindra Group, and Volvo Cars, are urging political leaders to agree on a timeline to phase out fossil fuels at the upcoming U.N. climate summit. The companies, with nearly USD 1 trillion in global annual revenues, are calling for a commitment to reach 100% decarbonized power systems by 2035 for richer economies and financial support for developing countries to ditch fossil fuels by 2040. The companies highlight the impacts and costs of extreme weather events caused by climate change.