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Equinor has warned about the slow pace of transition to a low-carbon economy. The company’s chief economist insisted on swift, global and coordinated political action to drive changes in consumer behavior and to shift investments towards low carbon technologies. Equinor believes that Paris Agreement goals are achievable, but anymore delay in the actions will make it very hard to reach them. Paris Agreement caps the global rise in temperature below 2oC.
With the objective of becoming carbon-neutral by 2050, New Zealand draws a line on the sand with a ban on offshore oil and gas exploration. Aligning with the Paris targets, this step is important to create a clean, green and sustainable future for the country. However, the opposition has termed it as “economic vandalism”.