A scientific study is the first such assessment and lays bare the huge disconnect between the Paris agreement’s climate goals and the expansion plans of the fossil fuel industry.
The researchers described the situation as “absolutely desperate”. The conclusions of the report are “bleak” for the fossil fuel industry
“The analysis implies that many operational and planned fossil fuel projects are unviable,” the scientists said.
90% of coal and 60% of oil and gas reserves could not be extracted if there was to be even a 50% chance of keeping global heating below 1.5C, the temperature beyond which the worst climate impacts hit.
Prof Paul Ekins of University College London, UK, and one of the research team. “We are nowhere near the Paris target in terms of the fossil fuels people are planning to produce.”