"If all of the planned new extraction takes place, the world will produce more than double the quantity of fossil fuels in 2030 than would be consistent with holding global temperature rises to 1.5C above preindustrial levels. Emily Ghosh, a programme director at the Stockholm Environment Institute (SEI) in the US, said: Fossil fuel production should have peaked and started to fall. Every year of delay [to the peak and rapid fall required] significantly increases the pressure [on the climate]."
"The Production Gap 2025 report, from the SEI, the Climate Analytics thinktank and the International Institute for Sustainable Development, analysed 20 major producers of fossil fuels around the world, including the US, Russia, Saudi Arabia, China, Canada, Brazil, Australia and the UK, together representing about 80% of global fossil fuel production. Only the UK, Australia and Norway plan to reduce production of oil and gas by 2030, compared with 2023 levels."
Governments are increasing planned extraction of coal, gas and oil, raising future fossil fuel production relative to 2023. If all planned new extraction occurs, global fossil fuel output in 2030 would be more than double the level consistent with limiting warming to 1.5C above preindustrial. Delayed peak and decline in production increases pressure on the climate and accelerates consumption of the remaining carbon budget. Twenty major producing countries, representing about 80% of global fossil fuel output, were examined. Only the UK, Australia and Norway plan oil and gas production cuts by 2030; eleven of the twenty have increased production plans since 2023. Several producers, including Russia, plan to expand coal mining.
Read at www.theguardian.com
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