The world’s governments still plan on increasing coal production out to 2030 and increasing oil and gas production out to at least 2050. Coal market update tracks global pricing, demand and supplyStockholm Research Institute’s fourth 2023 Production Gap Report, subtitled Phasing down or phasing up?, tracks the misalignment between global governments’ planned fossil fuel production and global production levels consistent with limiting global warming to 1.5°C or 2°C. Of referenceSpotlight on coal: Africa must not be dictated to for funding – SANEDI CEO“In other words, governments are literally doubling down on fossil fuel production; that spells double trouble for people and planet. By 2050, planned fossil fuel production is 350% and 150% above the levels consistent with limiting warming to 1.5°C or 2°C, respectively. Given risks and uncertainties of carbon capture and storage and carbon dioxide removal, countries should at a minimum aim for a near total phase-out of coal production and use by 2040 and a combined reduction in oil and gas production and use by three-quarters by 2050 from 2020 levels.

Source: The North Africa Journal November 10, 2023 13:18 UTC