Analysis shows just 20 countries are responsible for nearly 90% of carbon dioxide pollution threatened by new oil and gas extraction projects between 2023 and 2050 — with top ‘climate hypocrites’ the United States, Canada, Australia, Norway, and the United Kingdom accounting for a majority. If these 20 Planet Wreckers followed the call from UN Secretary General Guterres to stop new oil and gas fields and licensing, the equivalent to the lifetime carbon pollution of 1,100 new coal plants would be kept in the ground.
As leading climate scientists watch the devastating, breakneck speed of unfolding climate disasters unfolding across the globe – from record soaring temperatures to catastrophic flooding – many are aghast at how rapidly their worst predictions are being now being played out in real-time.
Last week, a new scientific report was published looking at climate tipping points. As one of the authors notes: “The world is heading towards 2-3C of global warming. This sets Earth on course to cross multiple dangerous tipping points that will be disastrous for people across the world”.
Credendo’s new policy is meant to implement the Glasgow commitment to end international public finance for fossil fuels by the end of 2022, but it leaves loopholes for existing oil and gas fields and gas-fired power.
A new peer-reviewed study published in Environmental Research Letters finds that existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C. The study, led by researchers at Oil Change International and the International Institute for Sustainable Development, finds that nearly 40% of developed fossil fuel reserves need to stay in the ground to keep the 1.5°C limit in reach.
One of the leading trade associations promoting fracking in the U.S. sees Putin’s war in Ukraine as a flagrant opportunity to sell more LNG gas. And lots of it. They are calling on the U.S. to “unleash American energy’s strength and security”.
There are always those who will want to profit from war or the threat of war, as unscrupulous as it may seem. And for the American oil and gas industry there is no exception.
Just weeks after hosting the COP26 summit, and despite still holding the COP Presidency, Boris Johnson’s government has given the go ahead for the Abigail oil and gas field off the east coast of Scotland.
ExxonMobil is a company that for decades has done more than any other to spread climate denial. But now the climate laggard wants you to believe it is becoming a climate champion.
Scientists are warning that “large quantities of fossil fuel reserves and resources are likely to become ‘unburnable’ or stranded if countries around the world implement climate policies effectively”. And up to half the world’s fossil fuel assets could be stranded by the mid 2030s