By Stephanie Kelly and Shadia Nasralla LONDON (Reuters) -BP said on Thursday it expects global oil demand to grow until 2030, five years later than its forecast a year ago, pointing to slowed efforts to increase energy efficiency and reduce global carbon emissions. The oil major's latest Energy Outlook, an annual study of energy trends through 2050, models two scenarios. The "Current Trajectory" scenario is based on existing policies and pledges. Its "Below 2-Degrees" scenario, a reference to the aim of ...

Climate Finance & Policy - COP30 in Brazil will focus on accelerating the implementation of the Paris Agreement on its 10th anniversary [1] - Bloomberg Green in Sao Paulo will be held on November 4th [1] Event Focus - The event follows last year's "Finance COP" in Baku [1]

Climate Finance & Policy - COP30 will focus on accelerating the implementation of the Paris Agreement on its 10th anniversary [1] - The event will be held in Sao Paulo, with live coverage starting on November 4th [1] - Bloomberg Live will cover the event, following last year's 'Finance COP' in Baku [1]

Core Insights - The iShares Paris-Aligned Climate MSCI USA ETF (PABU) is designed to provide broad exposure to the Style Box - All Cap Blend category and was launched on April 8, 2022 [1] Fund Overview - PABU is sponsored by Blackrock and has accumulated over $2.2 billion in assets, making it one of the larger ETFs in its category [5] - The fund aims to match the performance of the MSCI USA Climate Paris Aligned Benchmark Extended Select Index, which focuses on U.S. large and mid-cap stocks aligned with the Paris Agreement [6] Cost and Performance - PABU has an annual operating expense ratio of 0.10% and a 12-month trailing dividend yield of 0.98% [7] - The ETF has gained approximately 4.69% year-to-date and about 13% over the past year, with a trading range between $53.19 and $67.84 in the last 52 weeks [10] Sector Exposure and Holdings - The largest sector allocation for PABU is Information Technology, comprising about 39.5% of the portfolio, followed by Financials and Healthcare [8] - Nvidia Corp (NVDA) is the top holding at approximately 8.69% of total assets, with the top 10 holdings accounting for about 42.51% of total assets under management [9] Alternatives - Other ETFs in the space include Vanguard ESG U.S. Stock ETF (ESGV) and iShares ESG Aware MSCI USA ETF (ESGU), with assets of $10.8 billion and $13.9 billion respectively [12]

Core Insights - Equinor ASA has released its Energy Perspectives 2025 report, outlining four divergent scenarios for the global economy, energy markets, and greenhouse gas emissions amid rising geopolitical tensions and a delayed energy transition [1][9] Group 1: Emissions and Climate Action - Equinor's chief economist highlighted that the current geopolitical landscape and trade conflicts hinder global cooperation necessary for a Paris-aligned energy transition, with short-term political priorities overshadowing climate ambitions [2] - The report indicates that rising global greenhouse gas emissions in 2024 suggest a deviation from the 1.5°C climate target set by the Paris Agreement, with fragmentation in the global response to climate change posing significant risks [3] Group 2: Future Scenarios - The Energy Perspectives 2025 report presents four scenarios: Walls, Silos, Plazas, and Bridges, reflecting varying levels of cooperation, technological advancement, and policy direction, aimed at facilitating strategic thinking in an uncertain environment [4][9] - The "Walls" and "Silos" scenarios depict a fragmented world with slow progress on climate goals, while "Plazas" suggests moderate collaboration that still fails to meet the 1.5°C target; only the "Bridges" scenario aligns with the Paris Agreement but requires rapid global cooperation [5] Group 3: Long-Term Vision - Despite the challenges, the Bridges scenario indicates a potential pathway to a sustainable future aligned with the Paris Agreement, emphasizing the need for swift global cooperation to avoid a slower and more costly energy transition [6][7]

Core Insights - Equinor is advancing its Snohvit Future project to significantly reduce CO2 emissions from oil and gas production on the Norwegian continental shelf, aiming to meet Paris Agreement targets [1][2][9] Group 1: Project Overview - The Snohvit Future project, approved in August 2023, aims to halve oil and gas production emissions by 2030 compared to 2005 levels, targeting a reduction of 850,000 tons of CO2 emissions annually, which represents about 2% of Norway's total yearly emissions [2][5] - The project involves electrifying Hammerfest LNG with power from the mainland and implementing onshore compression to achieve these emissions reductions [2][5] Group 2: Construction and Implementation - The electrification initiative includes the installation of three large modules at Hammerfest LNG: a compressor, a transformer station, and electrode steam boilers [3] - A major tunnel is being constructed to carry power cables, and Statnett is building a new 420 kV line to meet increased power demand [3][5] - Onshore compression is expected to begin by 2028, with full electrification targeted for 2030, which will extend the life of the Snohvit field and maintain energy supply to Europe through 2050 [5][9] Group 3: Collaboration and Contracts - Axess Group has won an enterprise of competence contract with Aibel, reinforcing their collaboration on Equinor's carbon-reducing efforts at the Hammerfest LNG facility [1][4] - Aibel is leading modification work at the site and has commenced inspection and testing of over 250 pieces of lifting equipment on the compressor module [4][6]