Study suggests banning new fossil fuel plants

Researchers say the world has enough fossil fuel projects planned to meet demand forecasts through 2050 if net zero is reached

The world has enough fossil fuel projects planned to meet global energy demand forecasts through 2050 and governments should stop issuing new oil, gas and coal licenses, according to a major study aimed at political leaders, conducted by the University College of London and the International Institute for Sustainable Development (IISD). “If governments deliver on promised changes to prevent the world from missing its climate goals, no new fossil fuel projects will be needed,” the researchers said. The data offered what they said was “a rigorous scientific basis” for global governments to ban new fossil fuel projects and begin a controlled decline of the fossil fuel industry, while encouraging investment in clean energy alternatives. By setting a “clear and immediate demand,” political leaders could set a new standard around the future of fossil fuels, to which the industry could be held “immediately accountable,” the researchers said.

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