The world needs to cut by more than half its production of coal, oil and gas in the coming decade to maintain a chance of keeping global warming from reaching dangerous levels, according to UN-backed study.
The report, which was released days before a U.N. climate summit begins Oct. 31 in Glasgow, found most major oil and gas producers — and even some major coal producers — are planning on increasing production until 2030 or even beyond.
The disparity between climate goals and fossil fuel extraction plans — termed the “production gap” — will widen until at least 2040, the report found. “There is still time to limit long term warming to 1.5°C, but this window of opportunity is rapidly closing,” said the agency’s executive director, Inger Andersen, adding that governments should commit to closing the gap at the Glasgow climate summit.
For the United States, they found that government projections show oil and gas production increasing to 17 percent and 12 percent, respectively, by 2030 compared to 2019 levels. Much of that would be exported, meaning the emissions from burning those fossil fuels would not show up in the U.S. inventory although they would add to the global total.Costa Rica’s environment and energy minister said the report shows the need to stop extracting fossil fuels to meet the Paris goals.
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