From UPSC perspective, the following things are important :
Prelims level : Net Zero Producers' Forum
Mains level : Paper 3- Net Zero Producers' Forum
About the Net Zero Producers’ forum
- Five of the world’s major oil and gas producers are working together to ‘develop pragmatic net-zero emission strategies’.
- Qatar, the US, Saudi Arabia, Canada and Norway, collectively responsible for 40% of global oil and gas production, will come together to form a cooperative forum that will develop pragmatic net zero-emission strategies.
- Energy producers are faced with unique responsibilities to furnish the world with energy but the climate crisis requires serious leadership and a strong alliance to deliver a path to net-zero.
Strategies and technologies
- The Net Zero Producers’ Forum will consider strategies and technologies which include methane abatement, circular carbon economy approach, development and deployment of clean energy and carbon capture and storage technologies, diversification from reliance on hydrocarbon revenues etc.