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
Also in this section
23 October 2024
Next government faces the difficult task of balancing decarbonisation ambitions with energy security realities
21 October 2024
Gulf Energy Information will host the largest women's event in the energy industry on 19–20 November in Houston, Texas
10 October 2024
The Gulf Energy Information Excellence Awards 2024 celebrated the industry's top innovators at a gala in Houston, recognising achievements in categories ranging from digital transformation to sustainability
4 October 2024
Boost for CCUS and blue hydrogen projects as government confirms funding for HyNet and East Coast clusters