In order to escape extremely dangerous climate changes, emissions of greenhouse gasses must be cut by 85 percent by 2050. Norway and the European Union have as a target to avoid temperature rises of more than two degrees.

"In this situation we are in now, it is unjustifiable to gamble on dirty fossil energy. StaoilHydro is going in entirely the wrong direction when the company invests in intensely polluted oil sand in Canada, takes aim at a giant build up of the Shtokman field, and drools over drilling outside of Lofoten and Vesterålen,” said Bellona president Fredric Hauge.

Bellona says that it is time that the heavy-weight actors in fossil energy take responsibility and become a part of the solution instead of remaining part of the problem.

Responsibility must fall where it is due
Today, Bellona is arranging a seminar in Stavanger called “How to combat global warming – is there a role for the oil and gas industry in the future of energy?”.

The seminar is being held the day before the opening of the Offshore Northern Seas (ONS), a large scale conference for the petroleum industry.

At the seminar Bellona will present a challenge to the industry: Use the next two or three years to develop concrete plans for how you will provide for delivering at least 85 percent emissions free energy by 2050.

This can happen through a change over to renewable energy and cleansing of emissions from fossil energy production through CO₂ capture and storage.

The oil branch can both provide for this itself – and contribute though solid investment in climate friendly technology, and forward-thinking energy companies.

Funding must be contributed
Bellona also says that international investors must play an important role in the change over to cleaner energy.

“We already see that many large financial institutions are wagering on green energy. Now we will work with investors to provide for adjusting to a strict demand for more emissions-free energy,” said Bellona Vice President Marius Holm.

“The investors that chose to continue investing in dirty energy will in reality work against climate policy. They are betting that climate policy will fail if they put their money in oil, coal and gas,” he added.

Watch Bellona’s “How to combat global warming – is there a roll for the oil and gas industry in the future of energy?” seminar via Web TV here.