Skip to main content

International Energy Agency floats new plan to end oil, gas, and coal expansion

In major shift, International Energy Agency (IEA)’s World Energy Outlook has mainstreamed 1.5°C pathway, showing need to end oil, gas, and coal expansion, insisting on new fossil fuel phase-out benchmarks in order to test government ambition ahead of COP26. A report by Oil Change International, distributed by BankTrack:
***
For the first time, the International Energy Agency (IEA)’s flagship annual report on global energy pathways, used worldwide to influence trillions of dollars in investment, details an achievable roadmap to keep global heating below 1.5 degrees Celsius (°C). By making a 1.5°C scenario the benchmark of this year’s World Energy Outlook (WEO), the IEA challenges governments and companies to back up lagging Paris pledges with immediate action to shift the energy system away from fossil fuels.
Notably, this year’s WEO solidifies the policy conclusion, first presented by the IEA in May, that no new oil, gas, and coal extraction projects should be approved under a 1.5°C-aligned pathway, alongside a surge of investment into clean energy and efficiency solutions. This finding bolsters climate campaigners’ demands that governments and financial institutions take immediate action to stop investing in new fossil fuel extraction and rapidly increase climate finance heading into this year’s COP26 summit in Glasgow.
Oil Change International experts released the following statements in response to WEO 2021:

David Tong, Global Industry Campaign Manager, Oil Change International:

“Today’s report is a step change for the International Energy Agency. This year’s World Energy Outlook confirms that investment in new fossil fuel projects will undermine our chance to limit warming to 1.5ºC. In contrast, investing in clean energy brings huge benefits. A massive scale up of clean energy would ensure energy access, reduce price shocks, prevent millions of deaths from air pollution, and create millions more jobs. The days of the WEO being used to justify dangerous investments in fossil fuel expansion must be over.
“Now, the challenge is set for governments and investors. Will they stop approving and funding new oil and gas expansion? In particular, will the UK – who is presiding over the upcoming COP26 climate talks – prove its commitment to 1.5ºC by stopping the new Cambo oil field?
“Today’s report is particularly remarkable because of the IEA’s history. It was established after the 1972 oil shock with an express goal of securing OECD member states’ access to oil. Big oil and gas companies like Shell and BP have relied on previous, less ambitious IEA scenarios to justify inadequate climate plans and pledges. That hiding place is now gone.”

Kelly Trout, Research Co-Director, Oil Change International:

“We’ve seen some governments and fossil fuel companies dismiss the IEA’s 1.5°C scenario as ‘unrealistic,’ yet there’s no greater delusion than thinking we can solve the climate crisis by extracting more and more fossil fuels. Governments that have relied on the WEO in the past to justify their energy investments have no credibility in ignoring the IEA’s guidance now, when it’s finally consistent with the 1.5°C limit they agreed to in Paris.
“One indication of where governments stand in heeding this science will be who joins Denmark and Costa Rica in launching the Beyond Oil and Gas Alliance at COP26, committing to end oil and gas licensing. We’re also watching to see who joins the UK and European Investment Bank in jointly committing to end international finance for fossil fuel projects and shift funding into renewable energy solutions.
“It’s important to note that the IEA’s analysis finds no justification for new oil and gas fields despite still containing some risky modelling choices that prolong pollution. Last month, more than 150 civil society groups urged the IEA to slash over-reliance on carbon capture and storage, fossil gas, and biofuels in its 1.5°C scenario, and we’ll continue pushing the IEA to prioritize truly clean and just energy solutions.”

Key energy benchmarks for 1.5°C alignment highlighted in this year’s WEO include:

  • As of this year, ceasing approval of new oil and gas fields, coal mines or mine extensions.
  • As of this year, halting new construction of coal-fired power plants, and retiring around 40% of the existing global coal power fleet by 2030.
  • Investing heavily in energy efficiency, so that the energy intensity of the global economy falls by 4% annually this decade.
  • More than tripling global clean energy investment by 2030, with 85% of total energy investment directed towards clean technologies by that year.
  • Fully decarbonizing the electricity sector by 2035 in advanced economies – and by 2040 in all countries.
  • Slashing fossil fuel-related methane emissions by 75% by 2030.
  • Ending sales of new internal combustion engine cars by 2035 globally.
Prior to this year’s WEO, more than 150 civil society organizations submitted a letter to the IEA, urging them to center the 1.5 degree C-aligned scenario:
  • OCI’s analysis of the “Net Zero by 2050” scenario released in May 2021 can be found here
  • OCI’s response to the 2020 WEO can be found here:

Comments

TRENDING

Hold your breath! UK ex-Muslims to celebrate Blasphemy Day on September 30

Soheil Arabi The Council of Ex-Muslims of Britain (CEMB), in a suprise move, has decided to observe September 30 as the Blasphemy Day. In an email alert, Maryam Namazie, CEMB spokesperson, has asked anyone interested to join CEMB in celebrating blasphemy by " uploading your photo into our #blasphemyday frame and sharing on social media."

Diaspora protest as Biden failed to publicly address persecution of minorities in India

As Modi addressed UN, human rights groups decried “monstrosity” of persecution of Muslims, Christians, Dalits, and other minorities in India. Demonstrators gathered outside UN to protest fascism, hate campaigns, weaponized rape, apartheid, lynchings, unlawful arrests, attacks on the media, and other abuses in India: A report distributed by the diaspora group Hindus for Human Rights: *** While observers said it was “shameful” that President Biden failed to publicly address widespread persecution of religious minorities in India when he met with Indian Prime Minister Narendra Modi on September 24, more than 100 members of interfaith and human rights groups spoke out as Modi addressed the United Nations General Assembly. Speakers condemned the egregious human rights violations and murders of religious minorities in India under a government that openly supports Hindu supremacy. The rally was sponsored by 21 organizations, including Ambedkar International Center, Ambedkar King S

What this veteran Gandhian witnessed at Rajghat is indeed intensely disturbing

Renowned Gandhian, activist and physicist Professor VK Tripathi witnessed an “intensely worrisome” event at the Gandhi Samadhi on his birthday on October 2, 2021. “The children of the Hindutva criminals who assassinated him have captured places which are supposed to keep Gandhiji's heritage alive”, says Deepak Joshi in a Faceook post, insisting, “We should strongly protest against it. It is already too late.”

Forthcoming book explodes Western myth: Personal qualities are biologically inherited

Jonathan Latham, PhD, Executive Director, The Bioscience Resource Project, New York, has said in an email alert via JanVikalp that his forthcoming book about genetics and genetic determinism, provisionally titled "The Myth of The Master Molecule: DNA and the Social Order" criticises the notion that personal qualities are biologically inherited: *** The contention of the book is that the key organising principle of Western thought is the seemingly innocuous and seemingly simple idea that our personal qualities are biologically inherited. That is, our character derives from our ancestors rather than being an always-adapting product of our own experiences, decisions, and education. The book makes the case, first, that genetic determinism is a scientific fallacy. Organisms are self-organised systems and therefore are not genetically determined. Second, the explanation for the myth, which predates Mesopotamian cities of 6,000 years ago, is its utility. Genetic determinism rationa

UN Food Systems Summit paved the way for greater control of big corporations

In a sharp critique of the  UN Food Systems Summit, a statement released by the People's Coalition on Food Sovereignty, a global network of NGOs, has accused UN meet of being steered by big corporations, even as the Global South was pushed back. *** The Global People’s Summit (GPS) on Food Systems slammed the recently concluded UN Food Systems Summit (UN FSS) for paving the way for greater control of big corporations over global food systems and misleading the people through corporate-led false solutions to hunger and climate change. “It was just as we expected. While branding itself as the ‘People’s Summit’ and even the ‘Solutions Summit,’ the UN FSS did not listen to the voices of marginalized rural peoples, nor forward real solutions to the food, biodiversity and climate crises. Instead, it let powerful nations and big corporations play an even bigger role in determining food and agricultural policies. The UN has finally made it clear what ‘multilateralism’ is all about—paying l

Ex-official: Why not offer Vaishnaw loss making BSNL, Air India to prove his worth?

By Rajiv Shah A senior chartered accountant, whom I have known intimately (I am not naming him, as I don’t have his permission), has forwarded me an Indian Express (IE) story (July 18), “Ashwini Vaishnaw: The man in the chair”, which, he says, “contradicts” the blog (July 17), "Will Vaishnaw, close to Modi since Vajpayee days, ever be turnaround man for Railways?" I had written a day earlier and forwarded it to many of my friends.

Known to have assissinated O'Dwyer, Udham Singh chose not to apologise to the British

Udham Singh (26 December 1899 – 31 July 1940), best known for assassinating Michael O'Dwyer , the former lieutenant governor of the Punjab in India , on 13 March 1940, done in revenge for the Jallianwala Bagh massacre in Amritsar in 1919, for which O'Dwyer was responsible, was subsequently tried and convicted of murder and hanged in July 1940. While in custody, he used the name Ram Mohammad Singh Azad, which represents the three major religions of India and his anti-colonial sentiment. Writes a well-known analyst, "He too could have apologised. He chose the noose instead!" Udham Singh's speech prior to sentencing in UK: *** “I say down with British Imperialism. You say India do not have peace. We have only slavery Generations of so called civilisation has brought us everything filthy and degenerating. known to the human race. All you have to do is read your own history. If you have any human decency about you, you should die with shame. The brutality and blood

Gujarat cadre woman IAS official who objected to Modi remark on sleeveless blouse

By Rajiv Shah Two days back, a veteran journalist based in Patna, previously with the Times of India, Ahmedabad, phoned me up to inform me that he had a sad news: Swarnakanta Varma, a retired Gujarat cadre IAS bureaucrat, who was acting chief secretary on the dastardly Godhra train burning day, February 27, 2002, which triggered one of the worst ever communal riots in Gujarat, has passed away due to Covid. “I have been informed about this from a friend in Jaipur, where she breathed her last”, Law Kumar Mishra said.

Indian Doctors for Truth want Modi to stop overzealous universal vaccination drive

At a time when there is a huge demand to ensure that vaccination should be universal in order to gain immunity against the pandemic, an organisation called Indian Doctors for Truth, have asked Prime Minister Narendra Modi for the “urgent need to stop the overzealous universal vaccination drive against Covid-19.  Read the letter, signed by 18 doctors and a health expert: ***