HOUSTON — The world’s transition to renewable energy will be front and center this week as oil and gas industry leaders and government officials gather in Texas’ largest city for a high-profile energy conference.
CERAWeek by S&P Global will focus this year on the global challenges to meeting emission reduction goals amid evolving energy markets, growing demand for fossil fuels and geopolitical tensions like the Russia-Ukraine war. Speakers will include Energy Secretary Jennifer Granholm, White House climate adviser John Podesta, Sen. Joe Manchin (D-W.Va.), Alaska Gov. Mike Dunleavy (R), Bill Gates and the CEOs of the largest energy companies in the world.
The conference comes three months after nearly 200 nations agreed at the UN climate conference — known as COP28 — to transition away from fossil fuels. At the same time, oil and gas companies have scaled back their climate goals.
Last week, Shell eliminated its target to reduce its net carbon intensity by 45 percent by 2035, citing “uncertainty in the pace of change in the energy transition.” A year earlier, BP scaled back some of its net-zero pledges as well, though both BP and Shell have said their overall goals of achieving net-zero emissions remain intact.
