Oil companies told to stop drilling now to save the planet

📆 19/5/2564 1:21:00
📰 CNN Philippines

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The International Energy Agency, which was founded by rich industrial nations after oil shocks in the 1970s to promote secure and affordable energy supplies, says the world needs to stop drilling for oil and gas right now to prevent a climate catastrophe.

In order to reach net zero carbon emissions by 2050, the influential group said in a report Tuesday that investment in new fossil fuel supply projects must stop immediately, and no new coal-fired plants should be approved.

Dave Jones, global program lead at climate group Ember, said it marks a"major shift" for the IEA to"fully embrace the challenge of 1.5 degrees." Jones said the IEA report signals"the start of the end" for the oil and gas industry."It shows that any new fossil investment is made knowing it is inconsistent with a 1.5 degree world," he added.

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