The current plans of many governments in industrialized nations to extract coal, oil and natural gas are by no means sufficient to slow global warming to 2 degrees – let alone 1.5 degrees – compared to the pre-industrial era, as agreed in the Paris Agreement.
This is the new result Production Gap Report 2021 United Nations Environment Programme. The national climate goals set by governments would also be just a drop in the ocean — in order to keep temperature rise below 2 degrees by the end of the century, fossil fuel production would have to be drastically reduced, as the Statista chart explains.
According to experts, the top 15 industrialized and emerging countries will produce about 240 percent more coal, 57 percent more oil and 71 percent more natural gas by 2030 than would be consistent with the 1.5-degree target – this is called the production gap (the production gap). production). Natural gas production will see the strongest increase by 2040. Large projects such as Nord Stream 2 are an incentive to increase production.
The study also indicates that investment activity in fossil fuels has increased significantly compared to renewable energies. It is estimated that more than $300 billion has been invested in fossil fuels since the Covid-19 pandemic began. If this is not addressed, the production gap will grow larger and larger in the coming years and climate targets will be increasingly unlikely to be met.
The countries included in the report are Australia, Brazil, Canada, China, Germany, India, Indonesia, Mexico, Norway, Russia, Saudi Arabia, South Africa, the United Arab Emirates, the United Kingdom and the United States.
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