2021: A momentous year for oil and gas supply
The last 12 months have been a breakthrough year on the issue of oil and gas production. Reports like the International Energy Agency’s that found there should be no new oil and gas projects, important government and private sector announcements to curb production, along with numerous major campaign victories, have all created significant momentum. Whether governments, financial institutions and companies have policies to stop new projects and phase-out production aligned with 1.5°C, in a just and fair way, became a recognised test of whether they can claim to be genuine climate leaders.
THE BIG PICTURE
For all the hype going into COP26 in Glasgow, many of us around the world feel badly let down as once again as many key voices were excluded and the decisions failed to adequately address the scale of the crisis, especially for those in the most vulnerable countries. Despite these frustrations, COP26 may perhaps be seen as something of a turning point for the movement seeking a just and equitable oil and gas phase-out. The final decision text included explicit language on fossil fuels for the first time. While the language was far too weak - badly watered