![]() ![]() Niklas Hagelberg of UNEP said: “The data doesn’t look too good. Overall fossil fuel production is 45 percent more than consistent with even the weaker goal of 2 degrees Celsius. The new report analyzed publicly stated plans and projections and found production of 240 percent more coal, 57 percent more oil, and 71 percent more gas in 2030 than is consistent with 1.5 degrees Celsuis. In May, a report by the International Energy Agency concluded there can be no new oil, gas or coal development if the world is to reach net zero by 2050. It estimated that 90 percent of coal and 60 percent of oil and gas reserves must not be extracted for a 50:50 chance of hitting the 1.5C target. The vast majority of fossil fuel reserves owned today by countries and companies must remain in the ground if the climate crisis is to be addressed, a scientific study reported in September. Greta Thunberg recently excoriated global leaders over their promises to address the climate emergency, dismissing them as “blah, blah, blah.” Current pledges would mean a catastrophic 2.7 degrees Celsius rise, or about 4.9 degrees Fahrenheit.īut very few are taking measures to reduce fossil fuel output or cut subsidies to the sector. The world’s nations must pledge carbon-cutting measures that will keep alive hopes of restricting the rise in global heating to 1.5 degrees Celsius (about 2.7 degrees Fahrenheit). The crucial COP26 climate summit starts in Glasgow at the end of October. At COP26 and beyond, the world’s governments must step up, taking rapid and immediate steps to close the fossil fuel production gap and ensure a just and equitable transition.” (COP26 is the next annual UN climate change conference, or “Conferences of the Parties.”) Inger Andersen, executive director of UNEP, said: “The devastating impacts of climate change are here for all to see. “However, governments continue to plan for and support levels of fossil fuel production that are vastly in excess of what we can safely burn.” “The research is clear: global coal, oil and gas production must start declining immediately and steeply to be consistent with limiting long-term warming to 1.5C,” said Ploy Achakulwisut, at the Stockholm Environment Institute and a lead author of the report. The report also found that countries have directed more than $300 billion of new public finance to fossil fuel activities since the beginning of the Covid-19 pandemic, more than that provided for clean energy. Only two of the countries expect oil and gas production to decline: the United Kingdom and Indonesia. This results in double the fossil fuel production in 2030 that is consistent with a 1.5 degrees Celsius rise.ĭetailed analysis of 15 major fossil fuel-producing nations found that the United States, Canada, Australia, Saudi Arabia, and China all project increases in oil and gas, while India and Russia intend to increase coal production. The report, produced by the UN Environment Program (UNEP) and other researchers, found that global production of oil and gas is on track to rise over the next two decades, with coal production projected to fall only slightly. ![]()
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