World’s Biggest Fossils Must Cut Output 35% by 2040 to Hit 1.5°C Warming Target
- Nov 5, 2019 3:01 pm GMT
The world’s seven biggest fossil companies, including ExxonMobil, BP, and Shell, must cut their oil and gas production 35% by 2040 to avoid driving average global warming above 1.5°C, according to a new analysis published last week by UK-based Carbon Tracker.
“Global governments would also need to stop issuing new oil and gas licences for fossil fuel exploration,” The Guardian reports, citing the study. “It showed that global oil projects that have already been approved are almost enough to meet demand in a 1.6°C scenario,” leaving “very little headroom” for new fossil development.
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