Fossil Fuel Producers’ Output to Exceed Requirements to Reach Climate Goals

  • 20 October, 2021
  • 12:33 pm EEST

Major economies are forecast to produce more than double the amount of coal, oil and gas in 2030 than what is needed to reach the climate goals in the Paris Agreement, Reuters reported Wednesday, citing a report by the United Nations.

The report looked into 15 major fossil fuel-producing countries and found that their production would total around 110% more fossil fuels in 2030 than would be consistent with the goal to limit global warming to 1.5 degrees Celsius, and 45% more than is consistent with 2 degrees Celsius, according to Reuters.

Most major oil and gas producers aim to increase production until 2030 and beyond and several major coal producers also still plan to continue or boost production, Reuters cited the report as saying.

Fossil fuel production of the 15 countries are expected to increase until at least 2040, leading to about 240% more coal, 57% more oil and 71% more gas in 2030 than what is required to achieve climate goals, according to the report.

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