Despite an array of new ‘net zero’ pledges released in the past two years, the climate promises of major U.S. and European oil and gas companies still fail to meet the bare minimum for alignment with the Paris Agreement, according to a new study.
IEA
Study: Existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C, findings show
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.
Zeroing In: A guide for the finance sector on the IEA’s Net Zero Emissions scenario and its implications for oil and gas finance
This briefing gives financial institutions an overview of the IEA’s first 1.5°C-aligned scenario and what it means for oil and gas. We show that the IEA’s conclusion about ending new oil and gas field development is not a product of scenario design; it’s the arithmetic of 1.5°C.
Scientists issue new warning about the melting of Antarctica’s “riskiest” glacier
We have had great victories this year. But there is still so much more to do in order to stop fossil fuel extraction and fight for climate justice and a just transition and to stop further warming. Indeed, the warning signs continue to come. This week, scientists presented alarming news from Antarctica …
In major shift, IEA World Energy Outlook mainstreams 1.5°C pathway, showing need to end oil, gas, and coal expansion
For the first time, the International Energy Agency (IEA)’s flagship annual report on global energy pathways, used worldwide to influence trillions of dollars in investment, details an achievable roadmap to keep global heating below 1.5 degrees Celsius (°C).
More than 150 civil society organisations urge IEA to put 1.5ºC first in the 2021 World Energy Outlook
Today, Oil Change International and over 150 other civil society organisations from all over the world sent an open letter to International Energy Agency (IEA) director Dr. Fatih Birol, urging him to center 1.5 degrees Celsius (ºC) in the 2021 World Energy Outlook (WEO). The IEA is due to release the WEO in one month, on October 13, 2021.
IEA’s first 1.5°C-aligned scenario bolsters call for no new fossil fuel extraction
The IEA’s new 1.5°C-aligned scenario finds “no need for investment in new fossil fuel supply.” This represents a break from past IEA reports that boosted new oil and gas development by focusing on scenarios that steered the world towards catastrophic levels of warming. This is a big step in the right direction.
At Net Zero Summit, IEA receives clear call to put 1.5°C at heart of the WEO
At today’s IEA-COP26 Net Zero Summit, International Energy Agency director Dr. Fatih Birol again asserted that his agency “will provide a roadmap for the world to be in line with 1.5 degrees Celsius,” yet stopped short of saying it will be central in the upcoming WEO.
Response: IEA commits to develop a full 1.5°C-aligned net zero scenario
The IEA is finally taking a major step towards living up to its ambition to lead the clean energy transition.
WEO 2020: A small step when the world needs a giant leap
WEO 2020 is only a small step forward when the world needs a giant leap. Now the IEA has to finish the job and fix the WEO.