"CAPP must do a much better job of talking to the investment community about its own net-zero goals, & the industry’s swath of investments in clean & emissions-reducing technologies.”
The problem isn’t the storytelling, it’s the story.
Let’s start with net zero goals.
1/ #cdnpoli
The problem isn’t the storytelling, it’s the story.
Let’s start with net zero goals.
1/ #cdnpoli
None of CAPP’s members have goals aligned with the Net Zero Standard for Oil & Gas, which is backed by >20 global investors with ~$10 trillion of assets under management. greenbiz.com/article/whats-…
Why not? They refuse to include the pollution from burning their product.
2/
Why not? They refuse to include the pollution from burning their product.
2/
How about investments in clean & emissions-reducing tech?
Don’t just give us dollar numbers, put it in context.
IEA estimates this will only account for ~5% of upstream spending in 2022 (mostly thanks to European co’s)—95% to sustaining & increasing fossil fuel production. 3/
Don’t just give us dollar numbers, put it in context.
IEA estimates this will only account for ~5% of upstream spending in 2022 (mostly thanks to European co’s)—95% to sustaining & increasing fossil fuel production. 3/
It will be quite telling to see what CAPP’s members do with windfall profits:
1) % to capital investment to ↑ oil production
2) % to capital investment to ↓ GHG emissions from current production
3) % to pay ↓ debt
4) % to ↑ dividends
5) % to ↑ share buybacks 4/
1) % to capital investment to ↑ oil production
2) % to capital investment to ↓ GHG emissions from current production
3) % to pay ↓ debt
4) % to ↑ dividends
5) % to ↑ share buybacks 4/
For at least the past 15 years oilpatch leaders, lobbyists and Alberta Premiers have been yammering on about the need to tell the story about oil and gas better, more often, to more people.
The problem isn’t the storytelling, it’s the story.
5/5
The problem isn’t the storytelling, it’s the story.
5/5
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