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Report: Fossil fuel production must be cut by 6% annually

December 03, 2020

The Economic Times:

Even though countries plan to increase their fossil fuel production over the next decade, research shows that the world needs to decrease production of the same by 6 per cent per year to limit global warming to 1.5 degrees Celsius, the 2020 Production Gap Report said on Wednesday.

The report mentions India’s revenue share in the recently announced coal auctions as a policy that pushes towards increase in coal production.

In addition, it also looks at India’s Covid-19 economic recovery packages by classifying them into clean energy and fossils.

Added Bruce Robertson, Energy Finance Analyst, Gas/LNG, at Institute for Energy Ecnomics and Financial Analysis (IEEFA), “The production gap report gives policy makers clear options to change course and ensure a more liveable climate.” 

[Staff Report]

More: Nations must wind down fossil fuel annual production by 6%: Report

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