Oil and Gas May Be a Far Bigger Climate Threat Than We Knew

Oil and gas production may be responsible for a far larger share of the soaring levels of methane, a powerful greenhouse gas, in the earth’s atmosphere than previously thought, new research has found.

Emissions from human activity like the burning of
 fossil fuels may have been sharply underestimated.

The findings, published in the journal Nature, add urgency to efforts to rein in methane emissions from the fossil fuel industry, which routinely leaks or intentionally releases the gas into air.

“We’ve identified a gigantic discrepancy that shows the industry needs to, at the very least, improve their monitoring,” said Benjamin Hmiel, a researcher at the University of Rochester and the study’s lead author. “If these emissions are truly coming from oil, gas extraction, production use, the industry isn’t even reporting or seeing that right now.”

Read the story from The New York Times by Horoko Tabuchi - “Oil and Gas May Be a Far Bigger Climate Threat Than We Knew.”

New report shows world is awash with fossil fuels. It's time to cut off supply

A new United Nations report shows the world's major fossil fuel producing countries, including Australia, plan to dig up far more coal, oil and gas than can be burned if the world is to prevent serious harm from climate change.

The report found fossil fuel production in 2030 is on track to be 50% more than is consistent with the 2℃ warming limit agreed under the Paris climate agreement. Production is set to be 120% more than is consistent with holding warming to 1.5℃ – the ambitious end of the Paris goals. 

Australia is strongly implicated in these findings. In the same decade we are supposed to be cutting emissions under the Paris goals, our coal production is set to increase by 34%. This trend is undercutting our success in renewables deployment and mitigation elsewhere.

Read the story from The Conversation by Peter Christoff - “New report shows world is awash with fossil fuels. It's time to cut off supply.”

New report shows the world is awash with fossil fuels. It’s time to cut off supply

A new United Nations report shows the world’s major fossil fuel producing countries, including Australia, plan to dig up far more coal, oil and gas than can be burned if the world is to prevent serious harm from climate change.

Australia’s coal production
is expected to jump by 34%
 to 2030, undercutting our
climate efforts.

The report found fossil fuel production in 2030 is on track to be 50% more than is consistent with the 2℃ warming limit agreed under the Paris climate agreement. Production is set to be 120% more than is consistent with holding warming to 1.5℃ – the ambitious end of the Paris goals. 

Australia is strongly implicated in these findings. In the same decade we are supposed to be cutting emissions under the Paris goals, our coal production is set to increase by 34%. This trend is undercutting our success in renewables deployment and mitigation elsewhere.

Read the story from The Conversation by an Associate Professor from the School of Geography at the University of Melbourne, Peter Christoff -  "New report shows the world is awash with fossil fuels. It’s time to cut off supply.”

Copenagen to futher enhance its green-image by divesting itself of all fossil fuel investments

Copenhagen mayor, Frank Jensen - his
city it to divest itself of
all coal, oil and gas investments.

Copenhagen’s mayor has announced plans to divest the city’s 6.9bn kroner (£700m) investment fund of all holdings in coal, oil and gas.

If his proposal is approved at a finance committee meeting next Tuesday, as expected, the Danish capital will become the country’s first investment fund to sell its stocks and bonds in fossil fuels.

“Copenhagen is at the forefront of world cities in the green transition, and we are working hard to become the world’s first CO2 neutral capital in 2025. Therefore it seems totally wrong for the municipality to still be investing in oil, coal and gas. We must change that,” the city’s mayor, Frank Jensen, told the Danish newspaper, Information, which first reported the story.

“I think this move sits well with Copenhagen’s desire for a green profile for their city,” he added.

Read The Guardian story - “Copenhagen set to divest from fossil fuels.”