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     Oil & Gas: An industry lagging on climate change and sustainability Our research shows that scope 1 and 2 emissions within the oil and gas sector account for one-fourth of global GHG emissions. With few energy players aside from the EU majors showing much ambition in their current and future sustainability plans, it is likely that these emissions will increase over time. Perhaps more concerning, our analysis suggests that many players are not accounting for their emissions at all. None of the 50 biggest O&G operators have a sustainability roadmap that meets the “2 degrees guidelines” and just one in ten have a sustainability roadmap that addresses the objectives of the Paris agreement.          300000 250000 200000 150000 100000 50000 0 Source: EIA Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 U.S. LNG exports North America: Changing strategies for gas export In 2019, the U.S. strengthened its position as a liquified natural gas (LNG) exporter. An increase in liquification terminals enabled double-digit growth in exports mainly to Europe, reducing the region’s energy dependence on Russia. According to the International Energy Agency, the U.S. is expected to supply 85 percent of new oil and 30 percent of new gas until 2030—a significant change since our last publication. While LNG production significantly increases own emissions for most O&G players, it enables an international market for gas production and asset backed trading. Our analysis suggests that LNG as a product can emit lower carbon overall and is one way for O&G companies to improve the overall emissions intensity of their portfolio while avoiding reliance on pipeline infrastructure.         6 WEMO 22nd edition Million Cubic Feet 

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