https://www.miningweekly.com

Fossil fuel firms investing in Africa face 'risk of regulatory action' - US climate envoy

1st October 2021

By: Reuters

  

Font size: - +

Western fossil fuel companies investing in Africa face a significant risk of regulatory action that's getting more explicit as the world moves to try to tackle dangerous climate change, a US climate envoy said on Friday.

During a virtual media briefing while in South Africa as part of a continental trip, US Deputy Special Envoy for Climate Jonathan Pershing urged investors to consider whether investing in fossil fuels was worthwhile.

"There's a risk of regulatory ... and financial action, and I believe that's getting more and more explicit," he said, after being asked what US authorities likely response was to the current rush by Western oil and gas companies to develop deposits in Africa.

"There's an increasing ... price on carbon. If you're a company looking to make an investment in oil and gas, you have to ask yourself ... am I going to be left with a stranded asset?"

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION