ClickCease
ENERGY

IEA Report Urges Ban on Oil Coal And Gas Investments

In a new report, the International Energy Agency urges investors not to invest in new oil gas or coal projects. According to the body, that is the only way the world will achieve net-zero emissions by 2050.

IEA Fossils Ban Push

The sentiments are one of the starkest warnings by a world-leading energy body when growing calls for extraordinary measures to curb carbon emission to combat global warming. The environment community has already welcomed the report terming it a vindication.

However, the impact the report will have on the global oil and gas industry is still unclear. Exploration and drilling operations are going in various parts of the world. Such headlines are expected to grab the attention of policymaker’s investors and energy companies waiting to see if they will ultimately limit access to capital for fossil energy production.

Amid calls to limit investments into the oil, coal, and gas industry, there are also calls to do more in protecting the ever-aging US energy infrastructure. The audacious ransomware that afflicted Colonial Pipeline, sending Americans in the Southeast scrambling for petrol, is the wake-up call that things need to change.

Energy Cyber attacks

Upgrading security systems is the only way energy systems will be able to stay ahead of hackers. Cyber-attacks targeting key energy installation are one of the rise hackers have found an easy way to push for ransom running into millions of dollars. A new report by IBM indicates that the energy industry remains the third most targeted sector by cyber attackers, only behind the finance and manufacturing industry.

Separately, a new constellation made up of 37 high-tech companies is coming together to guide the electric utilities in the digital era. Organized by Anterix, the group seeks to be at the forefront of guiding the utility sector into leveraging technological expertise that can help players navigate the data-driven future.

According to Anterix CEO Rob Schwartz, the group, will seek to provide an active ecosystem program that should give the members a collaborative environment to develop broadband solutions.

By reading our website you agree to the terms of our disclaimer, which are subject to change at any time. Owners and affiliates are not registered or licensed in any jurisdiction whatsoever to provide financial advice or anything of an advisory nature. Always do your own research and/or consult with an investment professional before investing. Low priced stocks are speculative and carry a high degree of risk, so only invest what you can afford to lose. By using our service you agree not to hold us, our editor’s, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our newsletters, website, twitter, Facebook or chat. We do not advise any reader to take any specific action. Our releases are for informational and educational purposes only. Never invest purely based on our articles. Gains mentioned on our website, twitter, Facebook, and on our website may be based on EOD or intraday data. We may be compensated for the production, release, and awareness of this article. We will disclose any and all compensation on the article page. This publication and its owner never hold positions in the securities mentioned in our articles. Our information may contain Forward-Looking Statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site. The information in our disclaimers is subject to change at any time without notice. We are not held liable or responsible for the information in press releases issued by the companies discussed in these write-ups. Please do your own due diligence