What climate targets? Top fossil fuel producing nations keep boosting output

All but three of the 20 nations are planning or projecting increased production in 2030 of at least one fossil fuel. Eleven now project higher production of at least one fuel in 2030 than they did two years ago.

Expected global output of coal, oil and gas for 2030 is now 120 percent more than what would be consistent with pathways to limit warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) and 77 percent higher than scenarios to keep warming to less than 2 degrees Celsius (3.6 degrees Fahrenheit). The greater the warming, the more severe the consequences will be on extreme weather, rising seas and other impacts.

While previous installments of the report were published under the auspices of the United Nations Environment Program, this year’s version was issued independently.

In a sign of the world’s continuing failure to limit fossil fuel use, the modeling scenarios the report uses are becoming obsolete. Because nations have continued to burn more coal, gas and oil every year, future cuts would now need to be even steeper than what is reflected in the report to keep climate targets within reach.

“We’re already going into sort of the red and burning up our debt,” Grant said.

Three nations alone—China, the United States and Russia—were responsible for more than half of “extraction-based” emissions in 2022, or the pollution that comes when the fossil fuels are burned.

Ira Joseph, a senior research associate at the Center on Global Energy Policy at Columbia University, who was not involved in the report, said its focus on supply highlights an important part of understanding global energy markets.

“Any type of tax breaks or subsidies or however you want to call them lowers the break-even cost for producing oil and gas,” Joseph said. Lower costs mean more supply, which in turn lowers prices and spurs more demand. The projections and plans the report is based on, Joseph said, reflect this global give and take.