*[Enwl-eng] BREAKING: IEA says no more fossil fuel investment for 1.5ºC - please share!
ENWLine
От: David Tong <david...@priceofoil.org>
Hi all
(Sorry for cross posting!)
Today – after years of pressure from climate advocates, investors, businesses, and diplomats – the IEA has finally released its first ever full scenario aligned with limiting global warming to 1.5°C. As with past IEA reports, this new scenario needs some fixes (more on that below), and we’re still analyzing all of its implications.
But it contains one remarkable, unprecedented breakthrough: This new IEA scenario finds “no need for investment in new fossil fuel supply.” This means no new expansion of or investment in oil, gas, or coal beyond what is already committed.
This is a huge change in direction from the IEA. Past reports have given oil and gas companies and their investors plenty of cover to justify continued fossil fuel expansion. This new report shows that expansion cannot be Paris aligned.
Can you please help us spread the word on social media? Here is a sample tweet you can use:
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BIG: In their new net zero by 2050 report, @IEA says “There is no need for investment in new fossil fuel supply in our net zero pathway.” Read more: http://priceofoil.org/2021/05/18/iea-bolsters-call-no-new-fossil-fuel/ #FixTheWEO #NetZero #NetZero2050Roadmap
You can also retweet our OCI tweet here and find more sample tweets, posts, images and videos in our partner pack here.
What the IEA has said:
It’s not just that their scenario involves ending new fossil fuel expansion – it’s one of their headline conclusions. The report states:
There is no need for investment in new fossil fuel supply in our net zero pathway
Beyond projects already committed as of 2021, there are no new oil and gas fields approved for development in our pathway, and no new coal mines or mine extensions are required. The unwavering policy focus on climate change in the net zero pathway results in a sharp decline in fossil fuel demand, meaning that the focus for oil and gas producers switches entirely to output – and emissions reductions – from the operation of existing assets.
Big Oil and Gas has just lost a very powerful shield!
But the IEA’s analysis still needs fixing:
Though this is a huge step forward, the IEA’s analysis still gambles our futures on CCS, underestimates wind and solar, clings to fossil gas, and projects dangerous growth in bioenergy. We also don’t know what role this new scenario will have in the World Energy Outlook in 2021 and beyond.
So, as we’re highlighting the big step forward in this report, we’re also pushing for them to fix these flaws. There are sample tweets and posts on this in our partner pack too. Here’s one:
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Today, the @IEA took steps in the right direction, but it is still encouraging dangerous levels of reliance on carbon capture and storage, gas, and bioenergy – technologies favored by polluting industries but harmful for people. #FixTheWEO #NetZero #NetZero2050Roadmap
Why your tweets can be so impactful today:
We know that Dr. Birol and the IEA make heavy use of social media. How they appear online matters to them. They make important announcements via LinkedIn and regularly tweet excerpts from their analysis. Most of their senior staff are heavy Twitter users. So – they'll see what you post.
The fossil fuel industry and their allies will be fuming. They are used to the IEA being on their side. Let’s make sure they don’t get to spin this by making our voices heard loud and clear.
Thanks again,
David, Kelly, Romain & the OCI team
https://caneecca.org/
https://www.facebook.com/caneecca/
Twitter: @CANIntl
Subscribe to the ECO newsletter: http://climatenetwork.org/eco-newsletters
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