Current:Home > MarketsDespite climate change promises, governments plan to ramp up fossil fuel production -Capitatum
Despite climate change promises, governments plan to ramp up fossil fuel production
Indexbit Exchange View
Date:2025-04-07 06:36:22
Despite lofty commitments by governments to reduce greenhouse gas emissions, they are still planning to extract huge amounts of energy from fossil fuels in the coming years, according to a new report from the United Nations.
The report published Wednesday details how the world's largest fossil fuel producers plan to carry on using coal, gas, and oil — despite promises made under the 2015 Paris Agreement to limit global warming.
The world's governments plan to produce more than double the amount of fossil fuels in 2030, with just a modest decrease in coal production. That's contrary to promises to limit global warming to 1.5 degrees Celsius, and 45% more than what would be consistent with warming of 2 degrees, according to the report.
This latest report comes as the world's leaders are set to meet at the UN climate summit, COP26, in Glasgow beginning on Oct. 31.
Executive Director of UN Environment Programme Inger Andersen said in a statement that at that COP26 conference, "governments must step up, taking rapid and immediate steps to close the fossil fuel production gap and ensure a just and equitable transition."
Limiting warming to this threshold is important to avoid the worst case scenarios of climate change, according to scientists.
A recent study showed the current rate of warning and policies that fail to address needed cuts in pollution, climate events like heat waves will happen more often, be stronger, and last longer — posing a serious risk to younger generations. Other climate events like flooding and wildfires are more likely to happen, as well.
Taken together, governments' energy plans mean that fossil fuel production will increase overall, to at least 2040.
Specifically, the group of 20 major industrialized countries have directed nearly $300 billion in new funds toward those continued fossil fuel activities since the beginning of the COVID-19 pandemic — far more than they have toward clean energy efforts.
The U.S. specifically has shown a 17% planned increase of oil production and 12% with gas by 2030 compared to 2019 levels, according to Wednesday's report.
And it again reminded the world that "global fossil fuel production must start declining immediately and steeply."
Additionally, if carbon dioxide removal technologies fail to develop at a larger scale, or if methane emissions are not rapidly reduced, the gap between climate commitments and plans of governments will continue to expand, the report says.
Andersen said, "There is still time to limit long-term warming to 1.5 degrees C [above pre-industrial levels], but this window of opportunity is rapidly closing."
veryGood! (48)
Related
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Death toll from Minnesota home fire rises to three kids; four others in family remain hospitalized
- More than 1.6 million Tesla electric vehicles recalled in China for autopilot, lock issues
- Wrexham’s Hollywood owners revel in the team’s latest big win in FA Cup
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Protesters calling for cease-fire in Israel-Hamas war block traffic in Seattle
- FAA orders temporary grounding of certain Boeing planes after Alaska Airlines door detaches midflight
- Clemson coach Dabo Swinney shows up to basketball game with black eye
- The Best Stocking Stuffers Under $25
- Golden Globes: How to watch, who’s coming and what else to know
Ranking
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Israel signals it has wrapped up major combat in northern Gaza as the war enters its fourth month
- FBI arrests 3 in Florida on charges of assaulting officers in Jan. 6 insurrection
- Orthodox mark Christmas, but the celebration is overshadowed for many by conflict
- Trump invites nearly all federal workers to quit now, get paid through September
- Nikki Haley says she should have said slavery in Civil War answer, expands on pardoning Trump in Iowa town hall
- Michael Bolton reveals he's recovering from a successful brain tumor removal
- Cameron Diaz Speaks Out After Being Mentioned in Jeffrey Epstein Documents
Recommendation
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Olympian Mary Lou Retton Speaks Out About Her Life-Threatening Health Scare in First Interview
Texans wrap up playoff spot with 23-19 victory over Colts
Martin Sheen, Dionne Warwick, Andrea Bocelli listed as guests at RFK Jr.'s birthday fundraiser — and none of them are attending
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
Jordanian army says it killed 5 drug smugglers in clashes on the Syrian border
Mexico residents face deaths threats from cartel if they don't pay to use makeshift Wi-Fi narco-antennas
Mary Lou Retton received $459,324 in donations. She and her family won't say how it's being spent.