IEA Message to World Leaders: Stop Investing in New Oil and Gas

Source: Common Dreams

“Just over two weeks out from the COP26 climate summit in Glasgow, the International Energy Agency on Wednesday delivered a straightforward and urgent message to world leaders: Fossil fuels must stay in the ground if planetary warming is to be limited to 1.5°C by the end of the century. The IEA’s formal recognition of the 1.5°C target — the most ambitious aim of the Paris climate accord — was hailed as a ‘major shift’ in the right direction for the influential agency, whose annual World Energy Outlook (WEO) report is often used as a resource by policymakers and businesses across the globe. David Tong, Global Industry Campaign manager at Oil Change International, said Wednesday that the latest iteration of the WEO (while far from flawless in its projections and recommendations) ‘confirms that investment in new fossil fuel projects will undermine our chance to limit warming to 1.5ºC.'” (10/13/21)