{"id":142313,"date":"2021-10-21T20:16:47","date_gmt":"2021-10-21T14:46:47","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=142313"},"modified":"2021-10-25T09:05:12","modified_gmt":"2021-10-25T03:35:12","slug":"unep-production-gap-report-net-zero-targets-by-countries-are-empty-pledges-without-plans","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/unep-production-gap-report-net-zero-targets-by-countries-are-empty-pledges-without-plans\/","title":{"rendered":"UNEP production gap report: Net-zero targets by countries are empty pledges without plans"},"content":{"rendered":"\n
What is the news?<\/strong><\/h5>\n

UN Environment Programme (UNEP)<\/strong><\/a> has recently released the Production Gap Report (PGR).<\/strong> The released document is the 3rd<\/sup> assessment of the production gap report. This report highlights the discrepancy between countries\u2019 planned fossil fuel production levels and the global levels necessary to limit warming to 1.5\u00b0C.<\/p>\n

About the Production Gap Report<\/strong><\/h5>\n

PGR was first introduced in 2019. The report tracks how governments worldwide are supporting fossil fuel production through their policies, investments, and other measures.<\/p>\n

What are the key findings of the Production Gap Report?<\/strong><\/h5>\n

Increase in Production: <\/strong>All the world governments are still planning to produce more than double the fossil fuels than what the world requires to limit global warming to 1.5 \u00b0C. <\/span><\/p>\n

These projections would lead to around 240% more coal, 57% more oil, and 71% more gas in 2030 than global levels consistent with limiting warming to 1.5 \u00b0C.<\/span><\/p>\n

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Source: Down to Earth<\/figcaption><\/figure>\n

More investment in fossil fuels:<\/strong> There is an increase in the capital flow towards fossil fuels in comparison to clean energy in the post-Corona recovery phase. <\/span><\/p>\n

G20 countries have channelized $300 billion to fossil fuels since the beginning of the pandemic, and the sector is still enjoying significant fiscal incentives.<\/span><\/p>\n

Findings related to specific countries<\/strong><\/h5>\n

Oil and gas production<\/strong>: There is <\/span>an increase<\/strong> in oil and gas production in the United States, Canada, Australia, Saudi Arabia and China. But <\/span>UK and Indonesia<\/strong> are going to decrease their oil and gas output. <\/span>Denmark<\/strong> also decides to cancel all future licensing rounds for oil and gas, and completely phase out oil production by 2050.<\/span><\/p>\n

Coal production: <\/strong>India and Russia are planning to increase their coal production. Although, China announced to end support for foreign coal plants.<\/p>\n

Fossil Fuels: <\/strong>The G20 countries, have recently reduced financing for overseas fossil fuel projects.<\/p>\n

What are the suggestions provided by the Production Gap Report?<\/strong><\/h5>\n

To keep the temperature rise within limits, Global fossil fuel production must decline immediately. This should be accompanied by the decline of Global coal and oil.<\/p>\n

Source: <\/strong>This post is based on the following articles:<\/p>\n