Investing in Disaster: Recent and Anticipated Final Investment Decisions for New Oil And Gas Production Beyond the 1.5°C Limit

November 16, 2022By OCI TeamBriefings, Featured No Comments

The briefing reveals that new oil and gas production approved to date in 2022 and at risk of approval over the next three years could cumulatively lock in 70 billion tonnes (Gt) of new carbon pollution. This is equivalent to almost two years’ worth of global carbon emissions from energy at current levels, 17 percent of the world’s remaining 1.5°C carbon budget, or the lifecycle emissions of 468 coal power plants.

IEA confirms energy crisis is fossil fuel crisis and forecasts peak in gas

October 27, 2022By OCI TeamFeatured, Press Releases 1 Comment

The International Energy Agency (IEA) released its 2022 World Energy Outlook (WEO), underscoring that accelerating investment in clean energy and efficiency, not new fossil fuels, is the answer to both climate and energy security crises. In a marked shift for the IEA, WEO 2022 essentially declares an end to the ‘golden age of gas,’ as a result of the current energy crisis cementing an economic case against gas expansion, on top of the clear climate case.

Scientists warn that natural gas “cannot be a solution towards a zero-emission future.”

July 6, 2022By Andy RowellBlog Post

A new academic paper outlines why gas is not a so-called bridge fuel to a zero emission future. The scientists conclude that “a fossil fuel with a high climate impact, often hidden under a misleading narrative, which hinders decarbonization via infrastructure expansion, and so creates carbon lock-in effects and bears high economic risk, cannot be a solution towards a zero-emission future.”