<
https://theconversation.com/nearly-two-thirds-of-the-top-fossil-fuel-producers-in-australia-and-the-world-arent-on-track-for-1-5-climate-target-211609>
"Rapid reductions in fossil fuel production and use are essential to limit
global warming to 1.5℃ compared to pre-industrial levels. Our new research
shows most of the world’s major coal, oil and gas companies are yet to make
meaningful reductions.
Some companies have been quick to announce net-zero targets or other claims of
alignment with the Paris Agreement. But how do their actions compare to what
must be done to achieve the agreed goal of keeping the temperature increase
below 1.5℃?
Our research developed a method to track whether production by individual
fossil fuel companies is aligned with putting the world on a 1.5℃ climate
pathway. We use production budgets as these can be compared directly with
fossil fuel demand scenarios and avoid the need for complex emissions
calculations.
More than 60% of the top 142 oil, gas and coal companies – including three of
the five Australian companies assessed – were not on track. Rio Tinto and BHP
were the two Australian companies found to be on track. Between 2014 and 2020,
the fossil fuel sectors exceeded overall production budgets by 64% (oil), 63%
(gas) and 70% (coal).
These budgets are the levels of production needed to limit warming to 1.5℃
under the Paris Agreement “middle-of-the-road scenario” (where trends broadly
follow their historical patterns).
We need freely available information to understand the impact companies are
having on the climate and to hold them accountable. Our results are on the
website
Are you Paris compliant?."
https://www.areyoupariscompliant.com/
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
