Energy giants face 35 per cent output cut to hit Paris climate goals: watchdog
The biggest listed oil and gas giants must slash production by more
than a third by 2040 to keep emissions within targets laid out in the
landmark Paris climate deal, an industry watchdog said Friday.
than a third by 2040 to keep emissions within targets laid out in the
landmark Paris climate deal, an industry watchdog said Friday.
Carbon Tracker, a Britain-based think tank, said that current rates of
emissions from the energy majors would see the world’s carbon budgets
surpassed within decades due to an inexorable rise in oil and gas
output.
The 2015 Paris deal enjoins nations to limit temperature rises to “well
below” two degrees Celsius (3.6 Farenheit) and to a safer cap of 1.5C
if at all possible.