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Canada, major fossil-fuel producers failing climate targets, jeopardizing transition

Canada and other major fossil-fuel-producing countries are failing to meet targets to keep global warming in check, a newly released major international report warned Wednesday, putting the world’s energy transition at risk. The 2023 Production Gap report says the countries are planning to produce 110 per cent more fossil fuels in 2030 than is consistent with keeping global warming to 1.5 C above pre-industrial levels, and 69 per cent more fossil fuels than what’s in line with a 2 C target.
IISD in the news November 8, 2023

Interest in offshore oil exploration fizzles off Canada's most eastern coast

No companies wanted to pay to search for fossil fuels off Newfoundland and Labrador's coast this year. Each year, companies are invited to offer money to explore areas in the Atlantic Ocean for oil and gas deposits. But last week, the Canada-Newfoundland and Labrador Offshore Petroleum Board announced there were no new bids to explore the region in 2023. The lack of interest contrasts sharply with 2022 when over $238 million worth of exploration licences were awarded by the provincial-federal regulator.
IISD in the news November 8, 2023

Governments plan more fossil fuel production despite climate pledges, report says

Despite frequent and devastating heat waves, droughts, floods and fire, major fossil fuel-producing countries still plan to extract more than double the amount of fossil fuels in 2030 than is consistent with the Paris climate accord's goal for limiting global temperature rise, according to a United Nations-backed study released Wednesday.
IISD in the news November 8, 2023

The world is doubling down on fossil fuels even as global demand peaks

The world's biggest producers of fossil fuels aren't letting go of dirty energy just yet. In fact, most of them plan to keep producing coal, oil, and natural gas for decades to come, despite signs that demand for dirty energy will peak this decade. That's the conclusion of a major United Nations report that analyzes the production plans of 20 major fossil fuel-producing countries ahead of the COP28 climate conference in Abu Dhabi.
IISD in the news November 8, 2023

Governments set to exceed climate targets with planned fossil fuel production, report warns

Governments worldwide are planning to produce significantly more fossil fuels by 2030 than would align with international climate targets, a report released on Wednesday said. The Production Gap Report, jointly prepared by leading climate research organizations including the Stockholm Environment Institute, Climate Analytics, E3G, the International Institute for Sustainable Development, and the UN Environment Programme, found that planned fossil fuel production is expected to exceed the limits for a 1.5°C temperature rise by 110% and for a 2°C rise by 69%.
IISD in the news November 8, 2023

Global fossil fuel production plans far exceed climate targets, UN says

Global fossil fuel production in 2030 is set to be more than double the level deemed consistent with meeting climate goals set under the 2015 Paris climate agreement, the United Nations and researchers said on Wednesday. The U.N. 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 COP 28 climate meeting which starts on Nov. 30 in the oil-rich United Arab Emirates.
IISD in the news November 8, 2023

IGF 19th Annual General Meeting

This event will focus on sharing mining benefits in the energy transition. It will be held on November 7–9, 2023 in Geneva, Switzerland.
Conference November 7, 2023

Natural gas is a dying commodity, and Canada needs to stop supporting it

If governments around the world maintain the status quo in terms of energy policies, we’ll see peak global demand for coal, oil and gas before 2030 – and clean technologies will play a much stronger role. That's according to the latest analysis from the International Energy Agency, which recently released its annual World Energy Outlook, or WEO, report. For Canada, the IEA research confirms it's time for governments to heed the signals and end public support to the fossil fuel industry. This includes eliminating subsidies for liquefied natural gas expansion across the country.
IISD in the news November 7, 2023