Researchers: The World doesn’t need new fossil energy projects, enough to meet global demand until 2050

Jakarta – Researchers from University College London (UCL) and the Institute for Sustainable Development (IISD) assert that the world already has enough fossil fuel projects planned to meet estimated global energy demand until 2050. This has led to calls for countries to stop granting new licenses for oil, gas and coal projects.

“With a strong scientific basis, governments around the world could consider banning new fossil fuel projects and shifting to investing in clean energy sources,” the researchers said in a report published in the Science on Monday, June 3.

The study highlights that new fossil fuel projects are no longer necessary to achieve global climate targets. The researchers say that political leaders should set new norms around the future of fossil fuels so that the industry can be held accountable immediately.

The study analysed global energy demand forecasts and showed that new coal—and gas-fired power plants are unnecessary in an emissions-free future.

Steve Pye, co-author of the report from the UCL Energy Institute, emphasized the importance of clarity in dealing with future energy challenges.

“This proposed norm will help steer policy to increase investment in renewable and green energy while managing the decline of fossil fuel infrastructure fairly,” he said.

Fergus Green, from the political science department at UCL, added that the research draws lessons from past changes in global ethical norms.

“The demand for no new fossil fuel projects is a sound basis of judgment for all current governments and the fossil fuel industry,” he said.

The study provides a strong impetus for the global transition to cleaner, more sustainable energy with its findings. World leaders are called upon to take decisive action to halt the development of new fossil fuel projects for the planet’s sustainability. (Hartatik)

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