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Efforts to stave off disastrous climate change collided this
year with a global energy crisis of scarce gas and soaring fuel
prices, as Russia sharply cut gas deliveries to Europe following
its Feb. 24 invasion of Ukraine.
"We're witnessing a major push for expanded fossil gas LNG
production and import capacity across the world – in Europe,
Africa, North America, Asia and Australia – which could cause
global emissions to breach dangerous levels," said Bill Hare,
CEO of research institute Climate Analytics, which together with
NewClimate Institute forms Climate Action Tracker (CAT).
The planned projects could emit 10% of the world's remaining
carbon budget - the cumulative amount that can be emitted if
warming beyond 1.5C is to be avoided, CAT said. Among the
projects are new gas drilling in Canada and liquefied natural
gas (LNG) import capacity in Germany and Vietnam.
Countries agreed under the 2015 Paris Agreement on climate
change to attempt to stop greenhouse gases heating the planet to
more than 1.5C above pre-industrial levels.
Scientists have said going past 1.5C of warming would unleash
far more severe climate impacts than the deadly wildfires,
floods and rising seas already unfolding today. Currently, the
world is 1.2C hotter than pre-industrial levels.
By October, Russian gas had plummetted to 7.5% of Europe's gas
imports, down from 40% in recent years.
The dash to replace those supplies has bolstered plans to expand
fossil fuel infrastructure, even as the European Union has
proposed higher renewable energy targets to attempt to mostly
replace Russian fuel with clean energy.
The International Energy Agency has said no new oil and gas
fields should be opened if the world is hit the 1.5C goal.
CAT also calculated that countries' targets to cut emissions
this decade would put the world on course for 2.4C of warming,
versus 1.8C in a best-case scenario where countries achieved all
of their announced pledges including 2050 goals - which would
require tougher climate policies and far larger investments to
shift to green energy.
(Reporting by Kate Abnett; Editing by David Gregorio)
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