Phase out coal, cut oil and gas

Australia and other major producers are together set to increase the size of the fossil fuel industry to about twice what would be consistent with their pledge to try to stop warming at 1.5C, a UN report has found.

The UN Environment Programme evaluation found that none of the 20 major fossil fuel producers assessed have committed to reducing coal, gas and oil production in line with a maximum of 1.5C of warming (Cosmos). 

The report finds that in Australia, governments are planning to increase their national production of coal and gas by 0.2% and 0.7% in 2030 compared to 2021 levels.

“The UNEP report is a damning indictment of the Albanese government, and its LNP predecessors,” said Professor John Quiggin, a University of Queensland economist.

“It shows that under current policies encouraging the extraction and export of coal and gas, we are contributing almost as much to the destruction of the global environment as Saudi Arabia, and more than any other country except China, Russia and the USA.”

The researchers suggest that governments should aim for a near-total phase-out of coal production and use by 2040, and cut oil and gas production to at least three quarters by 2050 compared to 2020 levels.

Reproduced from Post – Fossil fuel threat to climate targets, Schwartz Media, 9 Nov 2023

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