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Fossil fuel-producing countries ignore climate warnings and plan to increase coal, oil and gas extraction

Despite climate warnings and the increasingly rapid expansion of renewable energies, fossil fuel-producing countries are still planning to increase the production of coal, oil and natural gas in the coming decades. To such an extent that, if these projections come true, it will be impossible to comply with the Paris Agreement, which establishes that, to avoid the most harmful effects of the climate crisis, the rise in global temperatures must be kept between 1.5 C and 2 C. Currently, global warming is 1.2 C above pre-industrial levels.
IISD in the news November 8, 2023

Global Fossil Production Set to Blow Through 1.5°C Climate Limit, New Report Warns

The world's 20 biggest fossil fuel-producing countries are set to extract more than enough oil, gas, and coal in 2030 to defeat any hope of holding global warming to a relatively safe 1.5°C, and Canada is projecting the fourth-largest increase in oil production, according to a new analysis released this morning.
IISD in the news November 8, 2023

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