IEA Says No New Fossil Fuel Projects Can Be Permitted in Order to Avert Worst-Case Climate Scenario

HeadlineMay 19, 2021

A major new report from the International Energy Agency says licensing for new fossil fuel projects needs to end after this year if the world is to reach net zero targets by 2050. Oil, gas and coal projects would need to be phased out as quickly as possible in order to have a chance of limiting global heating to 1.5 degrees Celsius above pre-industrial levels and averting the worst effects of the climate catastrophe. Climate activists say the report should act as a wake-up call. Oil Change International said, “Today’s report should herald the end of any excuses for continued fossil fuel expansion.”

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