Plans backfire

Shell and BP turn their backs on cabinet over climate deal

Zowel Shell als BP hadden al eerste stappen gezet richting afspraken om jaarlijks in totaal miljoenen tonnen CO2 te besparen.

The agreements between the cabinet and Shell and BP on sustainability will not go ahead. That is what Minister Sophie Hermans (Climate) and State Secretary Thierry Aartsen (Environment), both VVD, told the House of Representatives. Both fuel companies had already taken initial steps towards an agreement to jointly save millions of tonnes of CO₂ annually, reports ANP.

According to Shell, the plans ran aground due to increased costs, unfavourable market conditions and delayed infrastructure for electricity and CO₂. The projects that should have led to a reduction of 3.9 megatonnes of CO₂ by 2030 were “insufficiently concrete,” according to a document shared by Hermans and Aartsen.

BP was supposed to reduce its emissions by 1.2 megatons of CO₂, mainly thanks to a plant that would convert waste gases into low-carbon hydrogen. However, according to the cabinet, BP has halted that project and has not submitted alternative plans.

Other companies have also not signed a letter of intent with the cabinet and do not intend to. ExxonMobil, for instance, has “no desire” for the approach whereby the cabinet makes money available in exchange for sustainability promises. There were still “intensive talks” with chemical company Sabic, but these did not lead to concrete agreements.

Not excluded

The companies that drop out are not excluded, the cabinet stressed in a press release. “We remain in talks with these companies to see if we can support complex projects that contribute to long-term climate neutrality.”

Also read:

This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

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