Published: 15:04, November 8, 2023 | Updated: 20:44, November 8, 2023
UN: Fossil fuel production plans far exceed climate targets
By Reuters

A sign outside a petrol station shows the price of petrol breaking through the two Australian dollar ($1.46) a liter mark in Melbourne on March 3, 2022. (PHOTO / FILE / AFP)

LONDON - Global fossil fuel production in 2030 is set to be more than double the levels that are deemed consistent with meeting climate goals set under the 2015 Paris climate agreement, the United Nations and researchers said on Wednesday.

The United Nations Environment Programme's report, assessing the gap in fossil fuel production cuts and what’s needed to meet climate goals comes ahead of the global COP28 climate meeting which starts on Nov 30 in the oil-rich United Arab Emirates.

"Fossil fuel phase out is one of the pivotal issues that will be negotiated at COP28," Ploy Achakulwisut, Stockholm Environment Institute scientist and a lead author of the report said in a press briefing.

"We need countries to commit to a phase out of all fossil fuels to keep the 1.5 C goal alive," she said.

Under the Paris pact, nations have committed to a long-term goal of limiting average temperature rises to less than 2 C above pre-industrial levels and to attempt to limit them even further to 1.5 C

Under the Paris pact, nations have committed to a long-term goal of limiting average temperature rises to less than 2 C above pre-industrial levels and to attempt to limit them even further to 1.5 C.

While scientists say fossil fuel use must be reduced to meet the goal, countries have failed to reach any international agreement on set phase out dates for unabated coal, gas or oil use.

READ MORE: After UN meeting, countries brace for COP28 fossil fuel fight

The report analyzed the 20 major fossil fuel producers and found they plan to produce, in total, around 110 percent more fossil fuels in 2030 than would be consistent with limiting the degree of warming to 1.5 C, and 69 percent more than is consistent with 2 C.

None of the 20 countries have committed to reduce coal, oil, and gas production in line with limiting warming to 1.5 C the report said.

It said 17 of the countries have pledged to reach net zero emissions but most continue to promote, subsidize, support and plan the expansion of fossil fuel production.

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The 20 countries analyzed account for 82 percent of global fossil fuel production and 73 percent of consumption, the report said and include Australia, Norway, Qatar, Britain, the UAE and the United States.

The report was produced by UNEP, as well as experts from the SEI, the International Institute for Sustainable Development and think-tank E3G and policy institute Climate Analytics.