![]() ![]() ![]() They added: “If you’re going to say that, you better make sure it’s true. Oil majors like Saudi Aramco, ExxonMobil, BP, Shell and Eni claim to be aligned with net zero but continue to drill for more hydrocarbons.Ī senior UN official said that “sometimes” fossil fuel firms’ net zero pledges were “part of marketing efforts or communication efforts”. The sham must end.”Īs Glasgow forest pledge turns to action, most signatories drop out This toxic cover-up could push our world over the climate cliff. Using bogus ‘net-zero’ pledges to cover up massive fossil fuel expansion is reprehensible. They must thoroughly review their pledges and align them with this new guidance,” said Guterres. “So-called ‘net-zero pledges’ that exclude core products and activities are poisoning our planet. UN secretary general António Guterres said he had “a message to fossil fuel companies and their financial enablers”. “You cannot be a net zero leader while continuing to build or invest in fossil fuel supply.” “Too many of these net zero pledges represent little more than empty slogans and hype,” said McKenna at a packed launch event at Cop27 in Sharm el-Sheikh, Egypt. Thousands of big businesses and cities have declared commitments to reaching net zero emissions by 2050, in line with the Paris Agreement climate targets. ![]() By 2030, the report found, the world's nations are planning to produce 240 percent more coal, 57 percent more oil and 71 percent more natural gas than would be needed to limit warming to 1.5 degrees Celsius.Companies must stop funding coal, oil and gas if their claims to be “net zero aligned” are anything more than greenwash, a UN-appointed taskforce has said.Īfter months of consultations, the 16-member anti-greenwashing group chaired by Canadian former environment minister Catherine McKenna found that “net zero is entirely incompatible with continued investment in fossil fuels”. At the same time, many of the oil wells and coal mines now being approved and developed could prove deeply unprofitable if demand for fossil fuels shrinks, creating economic disruption. If the world remains awash in oil, gas and coal for decades to come, then many countries could find it more difficult to shift to cleaner sources of energy. The world has already heated up roughly 1.1 degrees since the Industrial Revolution.īut the planned global expansion of fossil fuel extraction clashes sharply with those climate goals, the report found. Scientists and world leaders increasingly say that holding global warming to 1.5 degrees Celsius is crucial if humanity wants to avoid the most catastrophic consequences of climate change, such as ever-deadlier heat waves, large scale flooding and widespread extinctions. Taken together, those countries are currently planning to produce more than twice as much oil, gas and coal through 2030 as would be needed if governments want to limit warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels. From a report: The report looked at future mining and drilling plans in 15 major fossil fuel producing countries, including the United States, Saudi Arabia, Russia, Canada, China, India and Norway. Even as world leaders vow to take stronger action on climate change, many countries are still planning to dramatically increase their production of oil, gas and coal in the decades ahead, potentially undermining those lofty pledges, according to a United Nations-backed report released Tuesday. ![]()
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