Fuels surging past Paris
Governments worldwide are on track to produce 110 per cent more fossil fuels by 2030 than is consistent with limiting global warming to 1.5°C.
A newly-released international report says that despite 151 countries pledging to achieve net-zero emissions, the report highlights an alarming production gap that jeopardises climate goals.
Australia, committing to net-zero by 2050, is expected to increase coal and gas production by 0.2 per cent and 0.7 per cent, respectively, by 2030.
This contradicts its climate commitments and contributes to the overall global production surge.
The report recommends a near-total phase-out of coal production and a combined 75 per cent reduction in oil and gas production by 2050.
None of the 20 major fossil fuel-producing countries, including those with net-zero pledges, have committed to aligning production cuts with the 1.5°C target.
Inger Andersen, Executive Director of UNEP, has expressed concern.
“Governments’ plans to expand fossil fuel production are undermining the energy transition needed to achieve net-zero emissions, throwing humanity’s future into question,” Andersen said.
The report calls for COP28 to be a pivotal moment where governments commit to a managed phase-out of all fossil fuels and acknowledge their role in facilitating an equitable transition.
Neil Grant, Climate and Energy Analyst at Climate Analytics, says; “The writing’s on the wall for fossil fuels”.
Experts have also criticised the widening gap between rhetoric and action, urging governments to increase transparency and implement binding measures.
The report, developed by Stockholm Environment Institute, Climate Analytics, E3G, IISD, and UNEP, includes country profiles for major producers, revealing ongoing policy and financial support for fossil fuel production.