August 25, 2021 Read More →

Denmark, Costa Rica seek countries willing to speed end of oil and gas

Reuters:

Denmark and Costa Rica are trying to forge an alliance of countries willing to fix a date to phase out oil and gas production and to stop giving permits for new exploration, government ministers said and documents showed.

Burning fossil fuels is the main source of the greenhouse gas emissions heating the planet, but so far there has been no collective government action to end oil and gas production.

“Restricting domestic oil and gas production in line with what is required to live up to the Paris Agreement goals will be the core focus for BOGA,” a draft of the rules for the alliance said, referring to the group’s name – the Beyond Oil and Gas Alliance (BOGA).

Industry and governments are moving too slowly to meet the Paris Agreement’s goal of limiting temperature rises to 1.5 degrees Celsius (2.7° Fahrenheit), which scientists say requires the world to reach net zero emissions by 2050. 

The International Energy Agency has said there should be no new investments in fossil fuel supply projects anywhere in the world if the Paris targets are to be met. read more

The draft document seen by Reuters said a core task for the BOGA would be to establish a deadline for developing and developed countries to phase out existing oil and gas production that would align them with the Paris goals.

[Kate Abnett and Stine Jacobsen]

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