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Tom Young
24 October 2022
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No new oil and gas to meet 1.5°C

Report from IISD says new hydrocarbon investments are not compatible with 1.5°C carbon budgets

The world cannot develop any new oil and gas fields if it is to remain on a pathway to keeping global warming to 1.5°C this century, according to a new report from thinktank the International Institute for Sustainable Development (IISD). The report echoes warnings about stranded assets from other organisations. Last year, the IEA also said the world needed a a moratorium on oil and gas investments to comply with the goals of the Paris Agreement. Global oil and gas production and consumption must decrease by at least 15pc by 2030 and 65pc by 2050 to be stay on the pathway. Production from already operating fields and those under development would generate more oil and gas emissions than wou

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Also in this section
Core carbon principles could boost voluntary market
30 January 2023
Integrity Council for the Voluntary Carbon Market to launch finalised Core Carbon Principles for credit programmes and projects, the body’s chair tells Carbon Economist
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30 January 2023
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27 January 2023
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Japanese heavyweights get behind CCS
26 January 2023
Nippon Steel and Mitsubishi among a slew of major Japanese companies launching CCS initiatives as government sets out long-term roadmap

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