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.