Fundamentally, it is energy that is central to the fabric of our society, not fossil fuels.
Ploy Achakulwisut, SEI Research Fellow
Despite 151 governments making net zero pledges, a look at governments’ own plans and projections for fossil fuel production reveals a forecasted increase in global coal production until 2030, and in global oil and gas production until at least 2050, creating an ever-widening gap between the fossil fuels the world produces and the level needed to limit global warming to 1.5°C or even 2°C.
That’s why, in addition to ramping up renewable energy, governments must also initiate a corresponding phase-down in fossil fuel production, Achakulwisut says.
She explains how continued fossil fuel production contributes to lost return investments in the industry and delays the necessary transition away from fossil fuels. Climate crises across the globe call for a reckoning with the world’s fossil fuel addiction at COP28 and beyond, she says, reinforcing that while the world requires energy, it does not require fossil fuels.
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