In 2021, the International Energy Agency (IEA) warned that no new oil and gas fields or coal mines would open to cut net greenhouse gases to zero by 2050 and restrict global warming to 1.5 degrees Celsius above preindustrial levels.
The researchers calculated that 40% of developed fossil fuels must remain in the soil, in order to create a 50-50 possibility that global temperature rise at 1.5C would abate.
The team, led by researchers at Oil Change International and the International Institute for Sustainable Development, used a commercial database of more than 25.000 oil and gas fields, and created a novel record of coal mines in nine of the world’s largest mining countries.
The new research concludes positively, because it does not believe that new technologies will be able to suck huge quantities of CO2 out of the atmosphere to offset the combustion of coal, oil and gas.
🚨 New Study 🚨 Committed emissions from 25,000+ developed oil and gas fields + coal mines >>> the remaining carbon budget for 1.5°C. We need urgent policy attention now on managing an orderly & equitable phase-out of fossil fuel extraction. Read more 👉 https://t.co/lixa60onmd pic.twitter.com/kpSjbI7W9k
— Oil Change International (@PriceofOil) May 17, 2022
.jpg)
